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Exclusive: Inside the years-long scheme to turn a nationalized bank into Zelensky allies’ 'piggy bank'
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Exclusive: Inside the years-long scheme to turn a nationalized bank into Zelensky allies’ 'piggy bank'

by Dominic Culverwell

Documents obtained by the Kyiv Independent show that a scheme at the center of Ukraine’s latest corruption scandal was years in the making, built by manipulating a state-owned bank’s oversight board after its nationalization in 2023. On Aug. 19, Ukraine's anti-corruption authorities accused associates of President Volodymyr Zelensky of using Sense Bank, formerly Russian-owned Alfa Bank, to launder Hr 150 million ($3.4 million). The National Anti-Corruption Bureau (NABU) says the funds were used

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Putin has run out of moves

Vladimir Putin gestures during a visit in Ulan-Ude, Russia, on August 10, 2026.

The broad consensus among Russia-watchers is that the country is facing a prolonged bout of stagflation. Growth this year is unlikely to exceed 1%, and inflation is still stuck at 6% (or more). Moreover, the most promising option for reviving the economy is the least likely to be pursued, because it requires President Vladimir Putin's willingness to end the war in Ukraine. The downside risks are legion. Russian troops have barely advanced in Ukraine this year, and Russia cannot spend more on i

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