Ukraine was widely recognized as the most corrupt country even before the Ukraine war, but since war broke out and tens of billions of euros have flowed into the country, corruption has flourished like never before.
Swiss newspaper Neue Züricher Zeitung details how a clique of oligarchs, many of them close to President Volodymyr Zelensky, have grown famously wealthy.
“These big businessmen are profiting enormously from the war, while also being patriotic, pro-Western and very discreet,” wrote the Swiss Neue Züricher Zeitung‘s (NZZ) Kyiv correspondent, Guillaume Ptak.
In other words, instead of showing off with sports cars, these new oligarchs know they have to keep their wealth hidden amid a devastating war. The paper details five individuals who have profited enormously.
“The war, which has entered its fourth year, is proving to be a profitable field for businessmen like Andri Stawnizer, Andri Kobolev, Oleksander Hereha, Andri Kolodyuk, and Vasil Khmelnitsky. The quintet has established itself in the war economy, investing in rebuilding what the Russian army destroys time and again. earns a fortune in strategic sectors such as logistics, energy, or construction materials. Typical war profiteers? Sure. But not entirely,” writes the Swiss paper.
They are making a fortune in strategic sectors. While this could be considered typical war profiteering it is also seen in a more positive light, since they ultimately support the army and the civilian population. According to the NZZ journalist, they are therefore“not like their classic predecessors, who recovered after the change of regime. They were mostly swept away by the war. The new generation does not buy TVs, newspapers or representatives, nor parties or private armies.”
NZZ writes that this new generation of oligarchs is not like the old one, and that “reins are held by President Volodymyr Zelensky.”
While Ukrainian authorities welcome most of the new oligarchs, this does not mean that they automatically have good relations with the presidential office. The paper notes that Kobolev, in particular, was known for his anti-corruption activities even before the war. He reportedly does not have the best relationship with Zelensky and has now been charged with corruption himself.
As for the other four, the paper does not make any allegations of corruption, but Ukraine is known as a country where corruption is entrenched from the top to the bottom of the system. Many leading officials have been charged with corruption, but skeptics claim that in many cases, these are only the officials who ran afoul of someone with more power, who wanted to remove a rival or settle a score.
Hellbound and Down 