Donald Trump’s Mysterious Obsession with Ukraine’s Shale Gas Reserves

Donald Trump’s Mysterious Obsession with Ukraine’s Shale Gas Reserves

By Ambrose Evans-Pritchard

The vast shale gas reserves of Ukraine, particularly the Yuzivska field in the eastern Donbas, have long intrigued Donald Trump. His interest, which dates back to his business dealings before his presidency, has resurfaced in recent years, raising questions about whether his geopolitical stance on Ukraine is influenced by hidden financial motives rather than pure strategic concern.

The Yuzivska Field: A Potential Energy Goldmine

Ukraine sits atop one of Europe’s largest untapped shale gas deposits, with the Yuzivska field estimated to hold up to 4 trillion cubic feet of recoverable gas. The development of these reserves could alter the balance of power, reducing Moscow's influence over Europe on a continent heavily dependent on Russian energy. Shell and Burisma Holdings, the same company that employed Hunter Biden, and Ukraine entered into a production-sharing agreement in 2012 to acquire exploration rights to Yuzivska. However, the 2014 war in the Donbass and Russia's annexation of Crimea slowed progress. The Curious Interest of Trump Trump’s fixation on Ukraine’s gas reserves first became public in 2017 when he reportedly pressured Ukrainian officials to steer energy contracts toward Michael Cohen, his then-personal lawyer, and other allies. The Washington Post reports that Trump suggested that Cohen could assist in negotiating deals for gas from Ukraine. This raised ethical questions about whether or not the president was using his position for personal gain. Trump's July 2019 phone call with Ukrainian President Volodymyr Zelensky, in which he demanded an investigation into the Bidens and Burisma, was even more intriguing. While the focus was on Hunter Biden’s lucrative role on Burisma’s board, some analysts speculate that Trump’s real target was Ukraine’s energy sector itself—potentially clearing the way for U.S. firms to take control of its shale gas assets.

A Geopolitical or Financial Play?

Trump has repeatedly framed his Ukraine policy in terms of fighting corruption and defending U.S. interests. But his personal financial history suggests another layer. Trump's business empire looked into energy deals in post-Soviet states before he became president, including a failed 2006 attempt to build a Trump Tower in Yalta, Crimea. Did Trump see Ukraine’s gas reserves as a business opportunity rather than a strategic asset for the West? His administration’s push for European countries to buy U.S. liquefied natural gas (LNG) instead of relying on Russian pipelines aligns with this theory. If Ukraine’s own gas fields were developed by American-linked firms, it could undercut both Russia’s Gazprom and European dependency on Moscow.

Russian Influence: A Shadow Trump’s pro-Russia stance—including his reluctance to arm Ukraine and his repeated praise for Vladimir Putin—adds another twist. If Ukraine’s shale gas were unlocked, it would directly threaten Russia’s energy dominance. Yet Trump’s actions often seemed to benefit Moscow, such as his attempts to block military aid to Kyiv.

Was Trump’s interest in Ukrainian gas merely a bargaining chip with Putin? Or, when he left office, was he preparing himself or his allies to profit from the reserves? There is room for speculation given the murky intersection of his business instincts and foreign policy. Conclusion: A Mystery Yet to Be Solved

Trump’s obsession with Ukraine’s shale gas remains one of the most enigmatic aspects of his presidency. Whether driven by personal profit, geopolitical strategy, or a mix of both, his maneuvers suggest that energy politics played a hidden role in his dealings with Kyiv.

As Ukraine continues to defend itself against Russian aggression, the future of its gas reserves—and who stands to benefit—remains a high-stakes game. Additionally, Trump's enigmatic interest in Yuzivska may reappear if he takes office in 2024. The Daily Telegraph's International Business Editor is Ambrose Evans-Pritchard. His columns often explore the intersection of geopolitics and energy economics.