"Ukrainian President Volodymyr Zelenskyy announced a major shake-up of state-owned energy companies on Saturday amid the largest corruption scandal to rock the country since the start of Russia's invasion in 2022. Around $100 million (86 million) was embezzled from energy companies, according to investigators, sparking widespread public outcry. "We are beginning the overhaul of key state-owned enterprises in the energy sector," Zelenskyy said on X. "Alongside a full audit of their financial activities, the management of these companies is to be renewed.""
"Allegations that millions of dollars had been embezzled came to light on Monday after the National Anti-Corruption Bureau of Ukraine (NABU) published the findings of a 15-month investigation. NABU alleged that several individuals connected to the energy sector had forced contractors of the state-owned nuclear energy company Energoatom to pay kickbacks of 10% to 15% on contracts to avoid payment delays or losing their contractor status. Some of these contracts related to the construction of protective structures to shield Ukraine's energy infrastructure from Russian strikes."
Ukrainian state energy companies are at the center of a corruption scandal in which investigators say around $100 million was embezzled. A 15-month probe by the National Anti-Corruption Bureau of Ukraine found individuals connected to the energy sector forced Energoatom contractors to pay 10–15% kickbacks to avoid payment delays or losing contractor status. Some implicated contracts involved building protective structures for energy infrastructure. Investigators say a parallel power structure was created within Energoatom, which supplies half of Ukraine's energy. Energy and justice ministers resigned while denying involvement, and sanctions targeted a close associate, Timur Mindich.
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