Five months since Russia’s invasion started, Ukraine’s wealthiest people have gone quiet – but will it stay like this for long?
Ukraine’s richest people, known in the country as oligarchs, are used to dominating political and economic life. But in the five months since Russia’s full-scale invasion started, they have gone quiet.
“Unlike in 2014, when [Ukrainian oligarch Ihor] Kolomoisky, for instance, was involved in defending Dnipropetrovsk region, there is someone to do that now – the state, the regional administration,” Poturyaev said. “Right now, the priority for oligarchs is not politics but ensuring the survival of their businesses and minimising their losses,” said Volodymyr Fesenko, a Ukrainian political analyst. “The only exception is [Ukraine’s previous president Petro] Poroshenko, who is still trying to be involved in politics,” said Fesenko.
The EU and the International Monetary Fund has long pushed Ukraine to clean up its oligarchic system, and in September 2021, Zelenskiy passed a de-oligarchisation law that, among other things, created a register of oligarchs. Rinat Akhmetov, who rejects the label oligarch, handed over his large media holding to the Ukrainian state last week when the law came into effect, according to a statement on. He said he did it because he did not want to “become an oligarch” by being included in the register. Zelenskiy’s adviser, Mykhailo Podolyak, said Akhmetov was leading by example.
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