Media: Cyprus revokes citizenship of Ukrainian oligarch Kolomoisky

Cyrpus has stripped Ihor Kolomoisky's Cyrpus citizenship after concluding that the notorious Ukrainian oligarch had withheld vital information related to criminal charges he faces, Philenews reported.

Kolomoisky, who was arrested last year in Ukraine, faces trial for alleged fraud, illegal acquisition of property, and money laundering related to his oil and gas holdings.

The Prosecutor General's Office announced in May that Kolomoisky was also suspected of ordering the murder of the head of a law firm more than 20 years ago in Crimea.

After reviewing the personal information submitted by Kolomoisky to obtain his citizenship under the so-called "Golden Passport" program, which allows wealthy investors to obtain citizenship through financial investments, the E.U. country determined earlier this month that Kolomoisky's "suspicious character" risked worsening Cyrpus's reputation, Philenews wrote.

Ukraine's Bureau of Economic Security reported that it completed its pre-trial investigation into Kolomoisky on Aug. 21.

The prosecutors said that part of the money Kolomoisky allegedly embezzled and transferred to his account, some Hr 2 billion ($48 million), was obtained at the expense of loans from PrivatBank, a Ukrainian bank formerly owned by Kolomoisky.

The bureau also said its detectives proved that Kolomoisky had organized the illegal seizure of more than Hr 3.3 billion ($ 80 million) from Ukrnafta, Ukraine's largest oil producer previously affiliated with the oligarch.

Kolomoisky, together with five associates, was charged by the National Anti-Corruption Bureau of Ukraine (NABU) with embezzling Hr 9.2 billion ($223 million) from PrivatBank, the NABU announced on Sept. 7, 2024.

Seven other wealthy individuals also lost their citizenship as part of the same review by Cyrpus authorities of personal data submitted during citizenship applications.

Opinion: Ukraine’s oligarchs were once kingmakers. Where are they now?

Ukraine’s oligarchs, once the nation’s power brokers, have seen their influence wane dramatically over the past decade. Amid the ongoing war and internal reforms, the oligarchs who once shaped Ukraine’s post-Soviet trajectory face a new reality. The structural factors that created these powerful fig…

The Kyiv IndependentJakub Parusinski