Ukraine's President Volodymyr Zelenskyy has set out measures to reboot major state-owned companies following a meeting where he agreed upon an action plan with Prime Minister Yuliia Svyrydenko and Economy Minister Oleksii Sobolev.

Source: Zelenskyy on X (Twitter)

Quote: "We are beginning the overhaul of key state-owned enterprises in the energy sector. Alongside a full audit of their financial activities, the management of these companies is to be renewed. Today, together with Prime Minister Yuliia Svyrydenko and Minister of Economy Oleksii Sobolev, we defined the course of action."

Details: Zelenskyy stated that all conditions must be in place within a week to form a new, professional supervisory board at the state-owned nuclear energy company Energoatom , paving the way for a complete renewal of its management board.

As for Ukrhidroenergo , the state-owned operator of Ukraine's hydropower plants, Zelenskyy instructed that an urgent open selection procedure be held for a new chief executive and that the supervisory board be completed.

Regarding the Gas Transmission System Operator of Ukraine , he instructed that the supervisory board be finalised and that an urgent open selection for a chief executive be launched.

Quote: "Naftogaz of Ukraine – as the current supervisory board's contracts expire in January next year, a competition must be announced and conducted for the new board so that it can start operating in January 2026." [Naftogaz Group is Ukraine's largest national oil and gas company – ed.]

More details: Zelenskyy said that state representatives on supervisory boards at other major state-owned energy companies are also set to be replaced.

Quote: "I have also instructed government officials to maintain constant and meaningful communication with law enforcement and anti-corruption bodies. Any scheme uncovered in these companies must receive a swift and just response."

Background:

• During a meeting with Svyrydenko on 14 November, Zelenskyy said that the results of the audit of state-owned companies, announced after the National Anti-Corruption Bureau (NABU) investigation, would be followed by personnel decisions.
• On 13 November, Svyrydenko said that Ukraine will carry out an audit of all state-owned companies, particularly those in the energy sector.
• The National Anti-Corruption Bureau of Ukraine (NABU) has released the third part of Operation Midas, its investigation into a large-scale corruption scheme at Energoatom.
• The ringleader is alleged to be Tymur Mindich, a co-owner of Kvartal 95 and a former associate of Zelenskyy. [Kvartal 95 is a TV production company that Volodymyr Zelenskyy founded before he became president.]
• The prosecution says that Mindich is alleged to have exerted influence over former energy minister Herman Halushchenko and former defence minister Rustem Umierov. Mindich left Ukraine just hours before the NABU search began.

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