Ukraine’s Foreign Intelligence Service has reported that Russia has about 13.2 billion tons of economically viable, proven oil reserves, enough for roughly 25 years of production.

At the same time, 96% of the subsoil fund has already been allocated, indicating near-full utilization of available fields.

Investors losing interest

According to the results of 2024 auctions, one-time payments for hydrocarbon extraction rights amounted to only $50 million, with half the revenue from placer gold mining, a sector less significant for the budget.

This signals a sharp decline in investor interest in Russia’s oil and gas industry.

Technology and resources at the limit

Ukraine’s intelligence notes that over the next 10–15 years, the potential for further exploration of existing fields in Russia will be exhausted. Limited funding and a lack of technology to develop hard-to-reach, geologically complex, and remote regions undermine Russia’s energy and economic security, casting doubt on the long-term stability of its oil and gas sector.

Earlier, Euromaidan Press reported that Ukraine disabled 17% of Russia’s oil refining capacity through a wave of recent drone strikes targeting key infrastructure.

The attacks, carried out over the past month, have disrupted fuel processing, sparked gasoline shortages, and hit the core of Moscow’s war economy as Washington seeks to broker a peace deal.

For decades, China held a monopoly on strategic metals. But now a new player, Georgia, has found 240 million tons of manganese ore on its territory, already being called “the new lithium,” The Diary 24 reports. 

A colossal discovery in Chiatura

In the Chiatura region, reserves of manganese ore amounting to 240 million tons have been confirmed. Manganese is increasingly seen as an alternative to lithium for electric vehicle batteries. It allows the creation of cheaper and more reliable cathodes, which could radically change the balance of the global market. 

Georgia between China and the West

At the same time, the pro-Russian Georgian Dream party holds power in Georgia. As is known, China is Russia’s main economic partner, which sponsors its war against Ukraine. In addition, about 20% of Georgia’s territory is currently controlled by Russia, something Moscow can use as leverage for blackmail.

The current government has effectively stalled Georgia’s accession to the European Union. This reduces the country’s chances of democratization and, therefore, hinders alliances with Western nations.

A chance for the West and a challenge for China

The emergence of a competitor like Georgia has become an unexpected challenge for China, which has dominated strategic resources for decades. The US and other Western countries are already considering cooperation with Tbilisi to reduce dependence on Beijing.

The European Bank for Reconstruction and Development (EBRD) will enable Ukrainian banks to provide up to 900 million euros ($1.05 billion) in new loans by sharing credit risks, the EBRD announced in a press release on July 7.

The loans will target companies in agribusiness, manufacturing, pharmaceuticals, transport and logistics, as well as energy security projects.

The mechanism will be announced at the Ukraine Recovery Conference (URC) in Rome on July 10-11. This represents the largest risk-sharing facility implemented in Ukraine since the war began, according to the EBRD's press release.

Due to destructive Russian attacks on Ukrainian energy infrastructure, the EBRD will also focus on supporting distributed generation and renewable energy projects.

Russian forces have damaged most of Ukraine's thermal power plants and about 30% of power stations, disrupting nearly two-thirds of the country's total electricity generation, the bank says.

The EU, together with other EBRD donors, has developed plans to de-risk renewable energy investments to attract more private capital, which they will announce at the URC.

Nearly one-third of EBRD's wartime financing to Ukraine — 2.4 billion euros ($2.8 billion) — has gone to the energy sector. This includes support for state-owned electricity transmission and gas companies, as well as financing for hydropower and small-scale distributed generation.

In a pre-URC press release, the EBRD also expressed interest in supporting the development of a natural graphite deposit in Ukraine following the U.S.-Ukraine minerals agreement. Graphite is a strategic material used in batteries and defense applications.

The bank will launch the second phase of digitizing Ukraine's paper-based geological data archive to make information about mineral deposits more accessible, the EBRD reports.

Since Russia's full-scale invasion in 2022, the EBRD has invested over 7.2 billion euros ($8.4 billion) in Ukraine's economy.

Zelensky, Trump discussed replacement of Ukraine’s US ambassador, source says

Oksana Markarova has held the post since April 2021, and played a central role in coordinating U.S. military and financial support during the early phases of Russia’s full-scale invasion.

The Kyiv IndependentTim Zadorozhnyy