GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Ukraine's ousted defence minister plans US trip to raise project funding - Finance news and analysis from Global Banking & Finance Review
Finance

Ukraine's ousted defence minister plans US trip to raise project funding

Published by Global Banking & Finance Review

Posted on August 21, 2026

2 min read

· Last updated: August 21, 2026

Add as preferred source on Google

Ukraine’s Ousted Defence Minister Eyes US Funds for Defence Tech Projects

Fedorov’s Post-Ministerial Plans and US Outreach

By Max Hunder

Fedorov’s Dismissal and Public Response

KYIV, Aug 21 (Reuters) - Ousted Ukrainian defence minister Mykhailo Fedorov will go to the United States to raise money for new defence technology projects as he seeks new ventures after losing his post, a source close to the former minister told Reuters.

Fedorov's dismissal from the defence ministry in July led to weeks of protests in Kyiv and other Ukrainian cities calling for his reinstatement although they have now died down.

Political Developments and Election Calls

In a rupture with President Volodymyr Zelenskiy on Tuesday, Fedorov became the first leading Ukrainian political figure to call for wartime elections, which are prohibited under the constitution.

The source denied earlier media reports that Fedorov was going to the U.S. to seek political support for his election call, and said that the tech-savvy, reform-minded former minister would not be meeting U.S. politicians or officials.

New Defence Technology Projects

Investment Fund and Startup Initiatives

"Fedorov is planning to launch a range of projects related to the war and to Ukrainian startups," the source said, without providing any dates.

One of the projects would be an investment fund, the source said.

Collaboration with US Tech Companies

SpaceX, Palantir, and Starlink Involvement

A proponent of new military technologies and drone warfare since Russia's 2022 invasion, Fedorov has close ties to U.S. companies such as SpaceX and Palantir.

A personal appeal he made to SpaceX owner Elon Musk led to Starlink services being turned on over Ukraine at the beginning of the war. Tens of thousands of the company's satellite internet terminals are now the lifeblood of Ukrainian battlefield communications and important for piloting drones.

The source said Fedorov was continuing to talk to Musk about Starlinks, but that no meeting between the two men was currently planned.

(Reporting by Max Hunder, Editing by Daniel Flynn and Timothy Heritage)

Key Takeaways

  • Fedorov, dismissed in mid‑July, plans a US trip focused solely on raising capital for defence‑technology initiatives, not political support for his call for wartime elections (lemonde.fr).
  • Since his ouster in July triggered rare wartime protests across Kyiv and other cities, public support for his tech‑driven reforms remains high, though protests have waned (investing.com).
  • Fedorov, known for pioneering Ukraine’s ‘Army of Drones’, United24 platform, and ties to firms like SpaceX and Palantir, is pushing forward with innovation projects including an investment fund to support startups (en.wikipedia.org).

References

Frequently Asked Questions

Why is Mykhailo Fedorov visiting the United States?
Fedorov is visiting the US to raise funding for new defence technology projects and Ukrainian startups after his dismissal.
What kind of projects will Fedorov launch?
He plans to launch projects related to the war and Ukrainian startups, including an investment fund.
What are Fedorov's ties to US companies?
Fedorov has close ties to companies like SpaceX and Palantir and played a role in bringing Starlink internet services to Ukraine.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category