Western-backed Ukrainian oligarchs have become incredibly rich from the war, writes the Swiss newspaper NZZ. Ukraine’s oligarchs are getting rich from the war while trying to keep a low profile, writes the Swiss newspaper Neue Züricher Zeitung.

Ukraine was widely recognized as the most corrupt country even before the Ukraine war, but since the war broke out and tens of billions of euros and dollars have flowed into the country, and 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.

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.

Overpricing is common in public procurement across Ukraine, which often means businessmen taking a cut on top of any services they provide, with others in the chain of decision-making receiving a cut.

While war has been profitable for Ukraine’s oligarchs, peace will likely pay off even more for them. When the war ends, they stand to make even bigger profits through reconstruction, agriculture, and mineral resources.

‘Ukraine is now ruled by an oligarchic regime that increasingly survives on external support.

It is a state characterized by rampant corruption and an absence of genuine democratic frameworks,’ said former German Finance Minister Oskar Lafontaine during an interview with Frankfurter Allgemeine Zeitung in January of this year.

In Ukraine, high-level corruption ranks second among the main concerns of Ukrainians after the Russian-Ukrainian war, a survey conducted by the National Agency for the Prevention of Corruption revealed.

The results of the research previously presented by the Transcarpathian news portal Kárpáti Igaz Szó show that 71.6 percent of the population consider this to be the country’s second-biggest problem, and 73 percent of entrepreneurs think the same.

According to 87.9 percent of the population and 81.3 percent of businesses, the level of embezzlement in the country has increased compared to 2022.

Many hold the Western Alliance’s blue-eyed hero, Volodymyr Zelensky, responsible, with 47.5 percent of citizens and 48.3 percent of company representatives stating that combating corruption is the responsibility of the president and his office.

In contrast, 36.9 percent of respondents and 32.4 percent of business people say that the anti-corruption agency, or the Supreme Council, is the one that should take action to curb corruption.

The responses also included claims that the Council of Ministers and ministries can be held accountable for the spread of corruption. You can share this story on social media: 

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