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

by Dominic CulverwellAugust 22, 2026

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

Ukrainian authorities seek to sell Sense Bank, dismiss leadership amid corruption probe

by Oleg SukhovAugust 20, 2026

PepsiCo said it would leave Russia. Last year, it paid $237 million to the state

by Toby WoodallAugust 18, 2026

Russia strikes Ukraine's largest private port operator as Moscow rejects grain truce

by Dominic CulverwellAugust 14, 2026

Supermarket director under investigation after deadly Russian strike on Kryvyi Rih shopping center

by Tamara NowakowskyAugust 22, 2026

Kyiv launches ambitious plan to create 100,000 jobs for veterans

by Dominic CulverwellAugust 22, 2026

Russian frozen assets have Australia's Senate fired up

by Chris PowersAugust 21, 2026

Russian children's cartoon targeted in Zelensky's latest sanctions against Moscow's war machine

by Abbey FenbertAugust 21, 2026

NewsLetters

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Monday, August 24

01:02 PM

UK to share classified SCALP missile blueprints with Ukraine, paving way for domestic production

U.K. Prime Minister Andy Burnham is expected to formally announce the decision during his visit to Kyiv on Ukraine's Independence Day, his first overseas trip since taking office.

12:33 PM

Russian attacks kill 8, injure 43 over past day as Ukrainians celebrate Independence Day

Russia launched two Oniks anti-ship missiles, six Kh-31P and Kh-59 guided air-launched missiles, as well as 143 drones and other aerial targets overnight on Aug. 24, according to Ukraine's Air Force.

11:51 AM

Show your support for independent Ukraine with our merch

As Ukraine celebrates 35 years of independence, we've brought together some options to make your support for Ukraine visible. Shop our store, and know that you can support the Kyiv Independent while showing the world where you stand. Make a simple statement We created this collection after President Volodymyr Zelensky’s explosive visit to the Oval Office on Feb. 28, 2025, but it's just as relevant today. Wear this to show your solidarity with the people of Ukraine. Ask a question The quest

10:36 AM

About Business

The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

March 2, 2026War has drained Ukraine’s workforce, but women and veterans are stepping in to fill the void

February 11, 2026What Ukraine's ballooning debt means for its economy, and future

February 10, 2026Ukraine moves its power grid underground to shield it from Russian attacks

Business news

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

Ukrainian authorities seek to sell Sense Bank, dismiss leadership amid corruption probe

PepsiCo said it would leave Russia. Last year, it paid $237 million to the state

Russia strikes Ukraine's largest private port operator as Moscow rejects grain truce

Supermarket director under investigation after deadly Russian strike on Kryvyi Rih shopping center

Kyiv launches ambitious plan to create 100,000 jobs for veterans

Russian frozen assets have Australia's Senate fired up

Russian children's cartoon targeted in Zelensky's latest sanctions against Moscow's war machine

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The world is bigger than Europe. Ukraine should build stronger ties with Central Asia

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Ukraine wants foreign investors to buy its state assets. So far, they’re not biting

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Belgium LNG imports in July 100% Russian, report says

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NewsLetters

News Feed

UK to share classified SCALP missile blueprints with Ukraine, paving way for domestic production

Russian attacks kill 8, injure 43 over past day as Ukrainians celebrate Independence Day

Show your support for independent Ukraine with our merch

EU greenlights $7 billion in defense loans on Ukraine Independence Day

UK Prime Minister Andy Burnham among leaders in Kyiv as Ukraine marks Independence Day

General Staff: Russia has lost 1,478,070 troops in Ukraine since Feb. 24, 2022

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Editors' Picks

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

Explainer: What does Ukraine's latest corruption scandal tell us about how Zelensky governs?

Fedorov broke Ukraine's wartime election taboo. What happens next?

Once a hub in the rear, Pavlohrad is now in Russia's glide bomb crosshairs