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Explainer: How Ukraine’s biggest corruption scheme persisted despite all odds

Ukraine's largest corruption scandal in years came to light last year with a wave of arrests, sanctions, and a political shakeup. New revelations over the past few weeks suggest that produced little result. Last November, Ukraine’s anti-corruption authorities' Operation Midas uncovered a $100 million money-laundering and bribery scheme that implicated high-ranking officials and associates close to President Volodymyr Zelensky, largely through state-owned energy company Energoatom. At the cente

About Privatization

Ukraine's privatization program aims to transfer state-owned enterprises to private ownership to improve the economy's competitiveness. Ukraine’s State Property Fund manages auctions for state assets ranging from small businesses to large industrial facilities, with proceeds designated for defense and reconstruction needs. Ukraine suspended privatization of strategic enterprises in March 2022 following Russia's full-scale invasion, but resumed limited sales of non-critical assets in 2023.

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