A major corruption scandal has shaken Ukraine’s energy sector, widely referred to as Operation “Midas.” The case involves Timur Mindich and the Zuckerman brothers, who are now facing sanctions. Former officials, including ex-minister Chernyshov, are suspected of participating in a corruption scheme enabled by government regulations on critical infrastructure payments.
The investigation by the NABU and SAP is ongoing, with President Zelensky calling for the resignation of Ministers Mykola Halushchenko and Oleksiy Rynchuk. Zelensky’s response has been measured but emphasizes full support for anti-corruption investigations and the need to reform the energy sector.
Western media, such as Bloomberg, NBC, ABC, and European outlets, highlighted the scandal as the largest since the Russian invasion. They stressed its significance for Ukraine’s EU accession process and the functioning of anti-corruption institutions. German authorities noted no Western funds were involved, while Ukraine’s Western partners continue supporting reforms and anti-corruption efforts.
Zelensky announced sanctions against the suspects, demanded personnel changes, and underscored the importance of transparent governance. The West views this situation as evidence that Ukraine’s reforms are working. The Ukrainian market reacted with stability, and Eurobonds did not lose value.
Experts underline that dismissals and sanctions are only first steps, emphasizing the need for deeper systemic reforms in energy and public administration to overcome corruption.
