The conversation about Zelenskyy
Amid Russia’s ongoing invasion, Ukraine is now facing the largest corruption scandal of Volodymyr Zelenskyy’s presidency. It is a scandal with the potential to reshape the country’s politics. The intrigue, which involves alleged kickbacks in the graft-prone energy sector laundered through Russian-linked channels by close associates of President Zelenskyy, may prove as big a test of his leadership as the war itself.
On November 10, the National Anti-Corruption Bureau of Ukraine (NABU) exposed an alleged $110 million corruption scheme at state-owned nuclear company Energoatom. The charges are supported by a fifteen-month wiretap and over seventy searches carried out as part of a major investigation called Operation Midas.
According to NABU officials, the investigation uncovered a criminal enterprise run by Timur Mindich, a film producer and a former business partner of Zelenskyy. Additional suspects include former Minister of Energy and recently appointed Minister of Justice Herman Halushchenko; former Naftogaz CEO and Deputy Prime Minister Oleksii Chernyshov; former Minister of Defense and current National Security and Defense Council member Rustem Umerov; and Ihor Myroniuk, former deputy head of the State Property Fund and former advisor to Halushchenko.
Mindich fled Ukraine the day before his premises were raided and is reportedly now in Israel. Both Chernyshov and Mindich have long had ties with Zelenskyy, who co-founded the latter’s production company in 2003. Thus far, formal charges have been filed against eight of those implicated. Halushchenko has said he would defend himself against the accusations.
The alleged theft took the form of 10-15 percent inflated prices for infrastructure project contracts, which contractors were forced to pay in order to avoid losing their supplier status. The kickback scheme reportedly included security measures for the Khmelnytskyi Nuclear Power Plant. The Ministry of Energy is suspected of facilitating the scam.
The stolen funds were allegedly laundered through an office linked to fugitive ex-Ukrainian MP and now Russian Senator Andrii Derkach before being extracted from Ukraine. Derkach has been sanctioned since 2021 and was stripped of his Ukrainian citizenship in 2023.
On November 10, the National Anti-Corruption Bureau of Ukraine (NABU) exposed an alleged $110 million corruption scheme at state-owned nuclear company Energoatom. The charges are supported by a fifteen-month wiretap and over seventy searches carried out as part of a major investigation called Operation Midas.
According to NABU officials, the investigation uncovered a criminal enterprise run by Timur Mindich, a film producer and a former business partner of Zelenskyy. Additional suspects include former Minister of Energy and recently appointed Minister of Justice Herman Halushchenko; former Naftogaz CEO and Deputy Prime Minister Oleksii Chernyshov; former Minister of Defense and current National Security and Defense Council member Rustem Umerov; and Ihor Myroniuk, former deputy head of the State Property Fund and former advisor to Halushchenko.
Mindich fled Ukraine the day before his premises were raided and is reportedly now in Israel. Both Chernyshov and Mindich have long had ties with Zelenskyy, who co-founded the latter’s production company in 2003. Thus far, formal charges have been filed against eight of those implicated. Halushchenko has said he would defend himself against the accusations.
The alleged theft took the form of 10-15 percent inflated prices for infrastructure project contracts, which contractors were forced to pay in order to avoid losing their supplier status. The kickback scheme reportedly included security measures for the Khmelnytskyi Nuclear Power Plant. The Ministry of Energy is suspected of facilitating the scam.
The stolen funds were allegedly laundered through an office linked to fugitive ex-Ukrainian MP and now Russian Senator Andrii Derkach before being extracted from Ukraine. Derkach has been sanctioned since 2021 and was stripped of his Ukrainian citizenship in 2023.
