Fedorov calls for wartime elections
Analysis based on 87 articles · First reported Dec 10, 2025 · Last updated Aug 23, 2026
The political turmoil in Ukraine, including the challenge to Zelenskyy's authority and the call for elections, could increase uncertainty and weigh on investor sentiment, though the country's defense spending and procurement remain critical. The disclosed MIM-104 Patriot missile shortage and budget shortfall may pressure Western allies to increase military aid, potentially benefiting defense contractors and affecting related markets.
Mykhailo Fedorov, Ukraine's dismissed defense minister, called for wartime presidential elections in a video address on August 18, 2026, arguing that Ukraine faces a systemic crisis of governance and that democracy cannot be held hostage by Russia. This is the first such demand by a major Ukrainian political figure since the 2022 invasion. President Volodymyr Zelenskyy, who had fired Fedorov in July after a falling out with military chief Oleksandr Syrskyi, publicly detailed their rift, saying Fedorov's actions were misguided and that inaccurate information from the Defense Ministry led to an awkward encounter with U.S. President Donald Trump over SpaceX — Starlink use in Russia. Zelenskyy also disclosed a growing shortage of MIM-104 Patriot missiles, a $27 billion defense budget shortfall, and battlefield gains, including the near-complete recapture of Ukraine — Dnipropetrovsk Oblast. Parliament confirmed Yevhenii Khmara as the new defense minister, and protests supporting Fedorov have largely subsided. Polls show most Ukrainians oppose wartime elections, and Fedorov's call appears to have backfired politically.
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