NABU exposes group suspected of stealing 100,000 tonnes of Ukrnafta fuel worth over 2.88 billion hryvnias
Ukraine's anti-corruption bodies NABU and SAPO announced they had exposed an organized group suspected of misappropriating 100,000 tonnes of oil products belonging to Ukrnafta, Ukraine's largest oil producer. The estimated value exceeds 2.88 billion hryvnias. Four suspects have been formally notified in the first episode of the case, with several others identified. The investigation covers a 2017–2020 scheme in which fuel was routed through affiliated companies and proceeds were diverted via offshore entities.
Key points
- NABU and SAPO say the group is suspected of misappropriating 100,000 tonnes of Ukrnafta oil products valued at over 2.88 billion hryvnias.
- Four suspects have been notified in the first episode: businessman Mykhailo Kiperman, former NPK-Halychyna board head Bohdan Baradnyi, Rozhniativnafta co-owner Yevhen Krychevskyi, and former Ukrnafta vice president Feliks Luniov.
- A fifth suspect, Ukrtatnafta deputy board chair for commercial matters Andrii Pinchuk — a foreign citizen — was notified via international cooperation channels.
- The alleged scheme ran from 2017 to 2020; fuel was transferred to a controlled firm under commission agreements, then sold to affiliated companies through wholesale and retail networks including gas stations.
- Proceeds were funneled to accounts of companies controlled by the organizers, including foreign entities, in violation of the commission contracts; offshore structures in Cyprus, Belize, Saint Kitts and Nevis, and the British Virgin Islands were used to hide beneficiaries.
- The diverted fuel amounted to nearly 20% of all fuel sold at Ukrnafta gas stations during the scheme's operation.
- The investigation is being conducted with operational support from the SBU; NABU also says it detected a leak of case information that may involve a senior SBU officer whose unit was supporting the proceedings.
Why it matters
The case targets what investigators describe as a multi-episode scheme against Ukrnafta, Ukraine's largest oil-producing company. The estimated value of the misappropriated oil products — over 2.88 billion hryvnias — makes it one of the larger corruption cases publicly announced by Ukraine's anti-corruption bodies. NABU says the alleged scheme diverted nearly 20% of fuel sold through Ukrnafta's gas station network over the scheme's period. Several suspects include former Ukrnafta executives and figures described as controlling parts of Ukraine's oil sector, and the investigation is proceeding with operational support from the SBU while NABU separately says it detected a leak of case information that may involve an SBU official.
What happened
NABU and SAPO announced that they had exposed an organized group suspected of misappropriating 100,000 tonnes of Ukrnafta oil products worth more than 2.88 billion hryvnias. In the first episode of the case, four suspects were formally notified: businessman Mykhailo Kiperman, former NPK-Halychyna board head Bohdan Baradnyi, Rozhniativnafta co-owner Yevhen Krychevskyi, and former Ukrnafta vice president Feliks Luniov. A fifth suspect, Ukrtatnafta deputy board chair for commercial matters Andrii Pinchuk, a citizen of another country, was notified through international cooperation channels.
According to NABU, the scheme's first stage was designed and executed between 2017 and 2020. Ukrnafta fuel was transferred to a controlled company under commission agreements for further sale; part of it was then sold to affiliated companies that retailed it wholesale and through a network of gas stations. The proceeds, contrary to the contracts and legal requirements, were not returned to Ukrnafta but redirected to accounts of companies controlled by the organizers, including foreign entities. A network of offshore companies in Cyprus, Belize, Saint Kitts and Nevis, and the British Virgin Islands was used to conceal the ultimate beneficiaries. NABU estimates the diverted fuel at nearly 20% of all fuel sold at Ukrnafta stations during the scheme's operation.
The investigation is being conducted with operational support from the SBU. NABU also says detectives detected a leak of case information that, in the investigators' assessment, may involve a senior SBU officer from the unit supporting the proceedings. NABU and SAPO state they are also examining possible misappropriation of Ukrnafta assets in subsequent periods.
Background
Ukrnafta is Ukraine's largest oil production company and operates its own network of filling stations. According to the facts provided, Ukrnafta took management of the Glusco network assets in 2024 and completed the acquisition of Shell's Ukrainian fuel retail business in 2025. The facts state that Ukrnafta's 2025 net profit fell to 5.6 billion hryvnias from 16.3 billion hryvnias a year earlier, while revenue declined 5.3% to 99.4 billion hryvnias. The first episode of the scheme investigated by NABU was designed and executed during 2017–2020, with proceeds funneled through offshore companies in Cyprus, Belize, Saint Kitts and Nevis, and the British Virgin Islands. NABU and SAPO state they are also examining possible misappropriation of Ukrnafta assets in subsequent periods.