Ukraine's Parliament Set to Approve Sergei Koretsky as New Prime Minister
President Zelensky nominates Sergei Koretsky for prime minister amid government reshuffle expected on July 16
Ukraine’s Verkhovna Rada has received President Volodymyr Zelensky’s nomination of Sergei Koretsky to serve as the country’s new prime minister, with parliamentary approval scheduled for July 16.
On July 16, lawmakers are expected to vote to confirm Koretsky as the head of government and approve the formation of the new Cabinet of Ministers. This follows the resignation of former Prime Minister Yulia Svyrydenko and her entire government on July 14.
Government Reshuffle Signals Strategic Shift
The resignation of the government marks a significant transition, as Svyrydenko had led the Cabinet since July 2025. Initially, four candidates were considered for the premiership: Sergei Koretsky, chair of Naftogaz; Energy Minister Denys Shmyhal; Defense Minister Mykhailo Fedorov; and Kharkiv Mayor Ihor Terekhov.
“After consultations, President Zelensky identified Sergei Koretsky as the most suitable candidate for prime minister,” said parliamentary speaker Ruslan Stefanchuk.
Alongside Koretsky’s expected appointment, the Cabinet reshuffle includes a key change in the Ministry of Defense. Mykhailo Fedorov is set to be replaced by Ihor Klymenko, currently the head of the Ministry of Internal Affairs. In turn, Ivan Vyhovskyi is slated to succeed Klymenko as head of the Interior Ministry.
Notably, Foreign Minister Andrii Sybiga is expected to retain his position, providing continuity in Ukraine’s international diplomacy amid ongoing challenges.
This government transition occurs in a period marked by dynamic market and geopolitical developments, with sector rotations and trading volumes in Ukraine particularly sensitive to the political landscape. Market participants are closely watching these appointments, as they may influence energy policy and national defense spending, key drivers of economic stability and investor confidence.
