Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >Ukraine's new defence minister vows innovation on battlefield
    Finance

    Ukraine's New Defence Minister Vows Innovation on Battlefield

    Published by Global Banking & Finance Review®

    Posted on January 14, 2026

    3 min read

    Last updated: January 19, 2026

    Add as preferred source on Google
    Ukraine's new defence minister vows innovation on battlefield - Finance news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:Appointmentinnovationfinancial communitytechnology

    Quick Summary

    Mykhailo Fedorov, Ukraine's new defence minister, aims to innovate military strategy and reform the energy sector amid ongoing war challenges.

    Ukraine's new defence minister vows innovation on battlefield

    Ukraine's Defence Strategy and Leadership Changes

    By Olena Harmash and Yuliia Dysa

    Appointment of Mykhailo Fedorov

    KYIV, Jan 14 (Reuters) - Ukraine's parliament appointed young technocrat Mykhailo Fedorov as defence minister on Wednesday as the government seeks to drive innovation to strengthen the military during a difficult phase of the nearly four-year war.

    Challenges Facing the New Minister

    President Volodymyr Zelenskiy said he had ordered Fedorov, 34, to implement fast decisions to protect Ukraine's skies, strengthen supplies to the front line and introduce other technological solutions to stop Russian advances.

    Military and Energy Sector Reforms

    "We immediately identified the first priorities for the ministry of defence. The main one is air defence," Zelenskiy said in a post on X after meeting Fedorov.

    Response to Corruption Scandals

    The exhausted Ukrainian army is outmanned and outgunned on the battlefield after Russia's invasion in February 2022. Russian forces are steadily grinding forward in the eastern Donetsk region and trying to punch through defence lines in the south and northeast.

    With diplomatic efforts to end the war failing to produce tangible results, Kyiv needs to strengthen its armed forces, which total around 1 million personnel. 

    Zelenskiy said "much broader changes" were needed in the system for mobilising troops for the war.

    "Decisions have already been made to ensure a more equitable distribution of personnel among combat brigades," he said.

    Parliament voted to extend martial law and mobilisation until May, the 18th time since Russia's full-scale invasion. 

    NEW DEFENCE CHIEF TO DRIVE INNOVATION  

    Fedorov has already played an important role in shaping Ukraine's high-tech response to Russia's invasion in previous roles as the first deputy prime minister and digital transformation minister.

    "Today, it is impossible to fight with new technologies using an old organisational structure," Fedorov told lawmakers before the vote, promising sweeping changes.

    "Our goal is to change the system: to reform the army, improve infrastructure on the front lines, eradicate lies and corruption, and make leadership and trust a new culture." 

    Fedorov was instrumental in creating a "drone line" — a defensive line of drones meant to inflict maximum damage on Russian troops. He also helped improve connectivity for Ukraine's forces at the front line by deploying Starlink terminals. 

    Along with strengthening its defence efforts, Ukraine needs to implement big changes to stabilise the battered energy sector. Parliament appointed Denys Shmyhal, a former prime minister, as the new energy minister. 

    Shmyhal, one of the country's most experienced government officials, faces the dual challenge of keeping Ukraine's lights on despite heavy Russian attacks while also cleaning up the energy sector.

    His predecessor was dismissed in November after anti-corruption agencies uncovered a scheme to skim $100 million from Ukraine's state nuclear energy company.

    Both new ministers take up their positions weeks after a corruption scandal in the energy sector that caused Ukraine's biggest wartime political crisis and led to widespread public anger at Zelenskiy's government.

    Following that, Zelenskiy replaced several security officials and placed a popular spy chief at the centre of his administration as his chief of staff.

    (Reporting by Yuliia Dysa, Olena Harmash; Editing by Daniel Flynn, Rod Nickel)

    Table of Contents

    • Ukraine's Defence Strategy and Leadership Changes
    • Appointment of Mykhailo Fedorov
    • Challenges Facing the New Minister
    • Military and Energy Sector Reforms

    Key Takeaways

    • •Mykhailo Fedorov appointed as Ukraine's new defence minister.
    • •Focus on innovation to strengthen Ukraine's military.
    • •Reforms in military and energy sectors are prioritized.
    • •Response to corruption scandals in the energy sector.
    • •Zelenskiy emphasizes technological solutions and reforms.

    Frequently Asked Questions about Ukraine's new defence minister vows innovation on battlefield

    1What is innovation in technology?

    Innovation in technology refers to the introduction of new ideas, methods, or products that improve efficiency, effectiveness, or value in various sectors.

    2What is military modernization?

    Military modernization involves updating and improving a country's armed forces through new technologies, strategies, and equipment to enhance operational capabilities.

  • Response to Corruption Scandals
  • More from Finance

    Explore more articles in the Finance category

    Image for Blaze at Russia's Baltic Sea port of Ust-Luga after major Ukrainian drone attack
    Blaze at Russia's Baltic Sea Port of Ust-Luga After Major Ukrainian Drone Attack
    Image for Morning Bid: Deal, or no deal?
    Morning Bid: Deal, or No Deal?
    Image for Labubu maker Pop Mart meets 2025 revenue expectations
    Labubu Maker Pop Mart Meets 2025 Revenue Expectations
    Image for Israel strikes Tehran as Trump says US negotiating to end war
    Israel Strikes Tehran as Trump Says US Negotiating to End War
    Image for South Korea, Germany exposed to rare earths shortage, Australia's Arafura says
    South Korea, Germany Exposed to Rare Earths Shortage, Australia's Arafura Says
    Image for Currency markets drift as traders sceptical of US efforts to end Iran war
    Currency Markets Drift as Traders Sceptical of US Efforts to End Iran War
    Image for Stocks bounce and oil retreats on Mideast ceasefire reports
    Stocks Bounce and Oil Retreats on Mideast Ceasefire Reports
    Image for Equinor CEO says EU unlikely to increase Russian gas imports
    Equinor CEO Says EU Unlikely to Increase Russian Gas Imports
    Image for Openreach taps Google AI to speed fibre rollout, cut emissions
    Openreach Taps Google AI to Speed Fibre Rollout, Cut Emissions
    Image for UK consumer sentiment falls as Iran war rages, KPMG says
    UK Consumer Sentiment Falls as Iran War Rages, Kpmg Says
    Image for US oil prices fall on prospect of Middle East ceasefire easing supply disruption
    US Oil Prices Fall on Prospect of Middle East Ceasefire Easing Supply Disruption
    Image for Lamborghinis stranded in Sri Lanka as war disrupts Asia's used-car trade 
    Lamborghinis Stranded in Sri Lanka as War Disrupts Asia's Used-Car Trade 
    View All Finance Posts
    Previous Finance PostEconomic Confrontation Replaces Armed Conflict as Top Risk in Wef Survey
    Next Finance PostEU to Split Ukraine Financial Support With 30 Billion Euros for Budget, 60 Billion for Military