Yuliia Svyrydenko’s inaugural visit to the United States as Ukraine’s prime minister kicked off with a grand display of American capitalism.
One late August morning, she joined a gathering of investors at the Nasdaq building in Times Square to commemorate Kyivstar, a Ukrainian telecom company, making its historic debut on the American stock market. Pulsating music set the scene as a countdown clock wound down to zero, and Ms. Svyrydenko rang the market’s opening bell.
It’s uncommon for a prime minister to attend such an event, and even more so for a company from a war-torn nation to be listed on a major exchange. In a recent interview in Kyiv, Ms. Svyrydenko articulated her message clearly: “Ukraine is not only about donations, but it’s about business.”
Her statement seemed perfectly crafted to appeal to President Trump. He has frequently expressed frustration that the United States has not received tangible returns for the billions of dollars it has invested in Ukraine’s war efforts, largely initiated under his predecessor, Joseph R. Biden Jr. With direct U.S. financial aid no longer guaranteed, Kyiv is actively trying to convince Mr. Trump that Ukraine is a viable partner for profitable ventures, rather than solely a recipient of charity, even during wartime.
Appointed by President Volodymyr Zelensky in mid-July, the 39-year-old Ms. Svyrydenko appears perfectly suited for this role. Her career has been dedicated to private enterprise and economic affairs across various regional and national government capacities. As economy minister, she successfully negotiated a significant minerals deal with the Trump administration, a cornerstone of the evolving business relationship between Kyiv and Washington.
Her appointment “was a message from Ukraine to the United States, to Trump,” observed Mykola Davydiuk, a Kyiv-based political analyst.
Ms. Svyrydenko’s rise also highlights an increasing centralization of power under Mr. Zelensky, according to Western diplomats and Ukrainian lawmakers in Kyiv. A staunch loyalist, she progressed through his administration with the support of his influential chief of staff, Andriy Yermak. Analysts suggest that Mr. Zelensky, Mr. Yermak, and a small cadre of advisors maintain firm control over Ukraine’s governance, especially as Parliament has been largely marginalized and opposition figures have faced scrutiny from law enforcement and security agencies.
Ivanna Klympush-Tsinsadze, a prominent opposition lawmaker, commented that given the concentration of power in Mr. Zelensky’s office, Ms. Svyrydenko would have limited autonomy and would primarily be “taking orders from him and his closest team.”
Diplomats and lawmakers are concerned that Ms. Svyrydenko’s unwavering loyalty might prevent her from challenging Mr. Zelensky should he pursue further actions that undermine Ukraine’s democracy, such as his summer attempt to weaken the nation’s anti-corruption agencies.
Ms. Svyrydenko was in her first week as prime minister when Mr. Zelensky sought to limit these agencies. This move triggered widespread protests in Ukraine, with thousands taking to the streets in the largest demonstrations seen during three and a half years of war. She quickly moved to reassure European allies, on whom Ukraine heavily depends for financial support, that Kyiv remained dedicated to combating corruption.
“It was not an easy moment, and I was not expecting to face that kind of problem,” Ms. Svyrydenko remarked, smiling as she noted she never got the typical “honeymoon” period afforded to a new prime minister.
Ms. Svyrydenko presents an unexpected image in Ukraine’s wartime political landscape, often dominated by men in military-style attire with somber expressions. She smiles readily, her humor peeking through her serious demeanor. During her interview, she lightheartedly recounted testing her bodyguards’ nerves by ascending to the rooftop of a 10-story government building to inspect damage from a recent Russian missile strike.
She is among Ukraine’s youngest prime ministers and is only the second woman to hold the position. Over the past decade, she has steadily climbed the ranks from official posts in her home region of Chernihiv, in northern Ukraine, to leading national economic roles, including economic advisor to Mr. Yermak and, since 2021, economy minister.
Denys Maliuska, who served as Mr. Zelensky’s justice minister until last year, characterized her as diligent and ready “to tackle difficult tasks.” Mr. Maliuska noted that she is often seen meticulously filling her writing pad with notes during government meetings. Volodymyr Fesenko, another Kyiv-based political analyst, describes her as having the reputation of a “straight-A student.”
As economy minister, Ms. Svyrydenko worked diligently to stabilize the nation’s finances after they were plunged into chaos by the Russian invasion. She successfully established new trade routes to counter Moscow’s blockade of the Black Sea and secured billions in international aid. While modest, economic growth has since returned.
Perhaps her most significant challenge came this year when Ukraine engaged in negotiations to make its rich mineral resources accessible to the United States. This move was a calculated effort to gain Mr. Trump’s approval by appealing to his mercantile inclinations.
Ms. Svyrydenko spearheaded these discussions for Ukraine, which quickly became strained. Washington’s demands, such as granting the United States half of Ukraine’s mineral rights, felt to some Ukrainian officials like outright extortion, according to one current and one former Ukrainian official who spoke anonymously about the sensitive exchanges. Ms. Svyrydenko, however, stated that the conversation was not tense. A spokesperson for Mr. Bessent did not respond to requests for comment.
Ms. Svyrydenko ultimately secured more favorable terms and signed the deal, establishing what she described as a trusting “working relation with Secretary Bessent.”
Matthew Murray, chairman of the advisory board for Velta, a Ukrainian titanium company, noted that Ms. Svyrydenko has “clearly become a very effective communicator with the Trump administration.”
She explained that the minerals agreement, which grants the United States privileged access to Ukraine’s mineral resources through a joint investment fund, has fostered “steady relations” with Washington. She highlighted a recent U.S. government announcement pledging a $75 million investment in Ukrainian minerals.
Mr. Fesenko, the political analyst, suggested that her successful brokering of this deal was likely “the decisive factor in Zelensky’s decision to appoint her as prime minister.”
Upon assuming her new role, Mr. Zelensky tasked her with three key priorities: strengthening the economy, expanding social programs, and boosting weapon production.
All these initiatives heavily depend on financial backing from European allies. However, Mr. Zelensky’s controversial move to weaken the anti-corruption agencies left Ms. Svyrydenko in a challenging position.
During a July 23 meeting in Kyiv with diplomats from the Group of 7, Ms. Svyrydenko reportedly tried to defuse the tension with a joke, saying that if she had foreseen the storm ahead, she would have remained economy minister. This account comes from several diplomats who were present and spoke anonymously about the private discussion.
The action against the anti-corruption agencies became the country’s most significant political crisis during three and a half years of war, a period when elections had been suspended and internal rivalries largely suppressed in the name of national unity. In her interview with The Times, Ms. Svyrydenko distanced herself from the controversial episode.
She stated that she had not advocated for the law that would have weakened the agencies, a law that was ultimately reversed following public protests. She has since worked to bolster her anti-corruption credentials by fulfilling long-standing Western demands, including the appointment of a new head for an agency dedicated to combating economic crimes like tax evasion and smuggling.
“I don’t think that trust was broken” with the West, Ms. Svyrydenko reflected, “but it was a little bit dented.”
Ms. Svyrydenko’s crucial task now is to restore that trust to secure European aid, which Kyiv desperately needs to avoid an impending budget crisis. Approximately $20 billion is still required to cover next year’s national expenses.
Ms. Klympush-Tsinsadze, the opposition lawmaker, pointed out that one of Ms. Svyrydenko’s first actions as prime minister was to implement Mr. Zelensky’s initiative to expand government assistance for Ukrainians. Klympush-Tsinsadze criticized this as a populist move that contradicts the nation’s severe budget constraints.
Ms. Svyrydenko dismissed the criticism, emphasizing that a decade of experience in public service has made her “the most experienced” prime minister. Among her current priorities is securing Western funding to bolster Ukrainian air defenses, which have been severely strained by relentless Russian aggression.
The government building where she works serves as a stark reminder of the stakes. Last month, a Russian ballistic missile struck the upper floors directly above her office. For unknown reasons, the missile failed to detonate, leaving a massive hole and a persistent, acrid smell of smoke.
Had it exploded, the entire building could have collapsed, Ms. Svyrydenko explained as she inspected the strike site, where some debris still remained. “We were lucky,” she said.