Ukraine is grappling with one of its most damaging corruption scandals since the start of Russia’s full-scale invasion, as investigators uncover an alleged $100 million kickback scheme involving top officials and the state-owned nuclear power company Energoatom.
The revelations come as renewed Russian strikes cripple Ukraine’s energy grid, causing rolling blackouts ahead of winter.
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As per news agency AP, anti-corruption watchdogs accused senior figures in government and business of embezzling funds through inflated contracts and bribes. The findings, based on a 15-month investigation involving over 1,000 hours of wiretaps, led to the arrest of five people and charges against several others.
Zelenskyy orders ministerial shake-up
In response to growing outrage, Ukrainian President Volodymyr Zelenskyy called for the dismissal of justice minister Herman Halushchenko and energy minister Svitlana Grynchuk.
Prime Minister Yuliia Svyrydenko later confirmed both had submitted their resignations.
Zelenskyy also announced sanctions against businessman Timur Mindich, a close associate and co-owner of his Kvartal 95 media company.
“This is a matter of trust,” Zelenskyy said in a video statement on Telegram, pledging full cooperation with the investigation. According to Politico, Zelenskyy also stressed the need for “the inevitability of punishment” in corruption cases, saying that “any effective action against corruption is very necessary.”
Inside “Operation Midas”
According to Ukraine’s National Anti-Corruption Bureau (NABU), the operation, code-named ‘Midas’, exposed a network of businessmen and government officials who manipulated Energoatom contracts to extract kickbacks worth 10–15% of their value.
The money was allegedly laundered through a Kyiv office. NABU tapes also revealed coded conversations where officials discussed blackmail and pressure tactics against contractors.
Among those implicated are former deputy prime minister Oleksiy Chernyshov, identified under the codename “Che Guevara,” and former Energoatom security head Dmytro Basov.
NABU alleges Chernyshov received about $1.2 million and €100,000 through the scheme, while Basov denies any wrongdoing.
As per AP, the recordings suggest part of the money was directed to high-ranking officials.
NABU has also accused eight individuals of bribery, abuse of office, and possession of disproportionate assets.
Mindich’s alleged role
Mindich, a long-time Zelenskyy associate, is believed to have used his influence across multiple industries, including Ukraine’s booming drone production sector.
As per Politico, he fled to Israel before being charged, allegedly after being tipped off about the investigation. NABU is now probing how he learned of the charges in advance.
Mindich’s companies, including drone manufacturer Fire Point, have been accused of winning government contracts without open competition.
The company denies any links to Mindich or involvement in corruption.
European Union reacts
EU foreign policy chief Kaja Kallas was quoted as saying by news agency Reuters that the latest revelations were “extremely unfortunate,” adding, “There is no room for corruption, especially now … it is literally the people’s money that should go to the front lines.”
She urged Kyiv to act “very fast and take it very seriously.”
Earlier this year, the European Union had frozen $1.7 billion in aid after Zelenskyy approved a bill weakening the independence of anti-corruption agencies such as NABU and the Specialised Anti-Corruption Prosecutor’s Office.
The legislation sparked protests and warnings from EU officials that Ukraine must align with the bloc’s governance standards before aid is released.
Impact on war effort and western trust
The scandal strikes a heavy blow to Ukraine’s credibility as its forces retreat under intensified Russian attacks.
Lawmakers and analysts warn that corruption at such a level could erode Western trust and jeopardise aid. “It looks really bad in the eyes of our European and American partners,” said Oleksandr Merezhko, a lawmaker from Zelenskyy’s party, as cited by AP.
Political analyst Oleh Saakian said the scheme involved “millions, tens of millions of dollars,” warning that while not the largest in Ukraine’s history, its timing during wartime makes it particularly damaging.
Despite the crisis, anti-corruption bodies have been praised for their independence. “No one is above the law,” Merezhko said, adding that the investigation shows Ukraine’s watchdogs remain effective despite political pressure.
As Zelenskyy battles both Russian aggression and domestic scandals, Western allies will be watching closely to see whether Kyiv delivers on its promises of transparency and accountability.
The revelations come as renewed Russian strikes cripple Ukraine’s energy grid, causing rolling blackouts ahead of winter.
Video
As per news agency AP, anti-corruption watchdogs accused senior figures in government and business of embezzling funds through inflated contracts and bribes. The findings, based on a 15-month investigation involving over 1,000 hours of wiretaps, led to the arrest of five people and charges against several others.
Zelenskyy orders ministerial shake-up
In response to growing outrage, Ukrainian President Volodymyr Zelenskyy called for the dismissal of justice minister Herman Halushchenko and energy minister Svitlana Grynchuk.
Prime Minister Yuliia Svyrydenko later confirmed both had submitted their resignations.
Zelenskyy also announced sanctions against businessman Timur Mindich, a close associate and co-owner of his Kvartal 95 media company.
“This is a matter of trust,” Zelenskyy said in a video statement on Telegram, pledging full cooperation with the investigation. According to Politico, Zelenskyy also stressed the need for “the inevitability of punishment” in corruption cases, saying that “any effective action against corruption is very necessary.”
Inside “Operation Midas”
According to Ukraine’s National Anti-Corruption Bureau (NABU), the operation, code-named ‘Midas’, exposed a network of businessmen and government officials who manipulated Energoatom contracts to extract kickbacks worth 10–15% of their value.
The money was allegedly laundered through a Kyiv office. NABU tapes also revealed coded conversations where officials discussed blackmail and pressure tactics against contractors.
Among those implicated are former deputy prime minister Oleksiy Chernyshov, identified under the codename “Che Guevara,” and former Energoatom security head Dmytro Basov.
NABU alleges Chernyshov received about $1.2 million and €100,000 through the scheme, while Basov denies any wrongdoing.
As per AP, the recordings suggest part of the money was directed to high-ranking officials.
NABU has also accused eight individuals of bribery, abuse of office, and possession of disproportionate assets.
Mindich’s alleged role
Mindich, a long-time Zelenskyy associate, is believed to have used his influence across multiple industries, including Ukraine’s booming drone production sector.
As per Politico, he fled to Israel before being charged, allegedly after being tipped off about the investigation. NABU is now probing how he learned of the charges in advance.
Mindich’s companies, including drone manufacturer Fire Point, have been accused of winning government contracts without open competition.
The company denies any links to Mindich or involvement in corruption.
European Union reacts
EU foreign policy chief Kaja Kallas was quoted as saying by news agency Reuters that the latest revelations were “extremely unfortunate,” adding, “There is no room for corruption, especially now … it is literally the people’s money that should go to the front lines.”
She urged Kyiv to act “very fast and take it very seriously.”
Earlier this year, the European Union had frozen $1.7 billion in aid after Zelenskyy approved a bill weakening the independence of anti-corruption agencies such as NABU and the Specialised Anti-Corruption Prosecutor’s Office.
The legislation sparked protests and warnings from EU officials that Ukraine must align with the bloc’s governance standards before aid is released.
Impact on war effort and western trust
The scandal strikes a heavy blow to Ukraine’s credibility as its forces retreat under intensified Russian attacks.
Lawmakers and analysts warn that corruption at such a level could erode Western trust and jeopardise aid. “It looks really bad in the eyes of our European and American partners,” said Oleksandr Merezhko, a lawmaker from Zelenskyy’s party, as cited by AP.
Political analyst Oleh Saakian said the scheme involved “millions, tens of millions of dollars,” warning that while not the largest in Ukraine’s history, its timing during wartime makes it particularly damaging.
Despite the crisis, anti-corruption bodies have been praised for their independence. “No one is above the law,” Merezhko said, adding that the investigation shows Ukraine’s watchdogs remain effective despite political pressure.
As Zelenskyy battles both Russian aggression and domestic scandals, Western allies will be watching closely to see whether Kyiv delivers on its promises of transparency and accountability.
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