On February 14, 2023, the Cabinet of Ministers of Ukraine endorsed the draft Law of Ukraine "On Minimum Oil and Petroleum Products Reserves" developed by the Ministry of Energy.

The purpose of the bill is to increase the level of energy security of the state by ensuring a continuous supply of oil and petroleum products to the domestic market of Ukraine should a crisis situation arise in the oil and petroleum products market.

The document was elaborated to implement Council Directive 2009/119/EC of September 14, 2009. The adoption of the relevant draft law is part of the implementation of the EU-Ukraine Association Agreement as to the implementation of Council Directive 2009/119/EC.