Ukrainian President Volodymyr Zelensky has taken decisive action against a former close associate at the center of a major corruption scandal that has shaken the nation. On Thursday, November 13, Zelensky ordered sanctions against businessman Timur Mindich, who is accused of orchestrating a massive money-laundering scheme.
Key Details of the Fraud Scandal
The scandal revolves around the alleged diversion of $100 million from Ukraine's energy sector, an industry already crippled by relentless Russian attacks that have caused severe electricity shortages for millions. Anti-corruption investigators identified Timur Mindich, a 46-year-old businessman with long-standing personal and professional ties to President Zelensky, as the mastermind behind the fraud.
Zelensky's office released a decree imposing what it described as "personal special economic" sanctions on Mindich and another businessman, Oleksandr Tsukermann. The order freezes their assets, revokes state honours, and restricts their business activities and international travel. Both men hold Israeli citizenship and are believed to have already left Ukraine.
Political Fallout and International Reaction
The allegations pose significant political risks for Zelensky, with Ukrainian media repeatedly describing Mindich as a long-time friend of the president. A senior Ukrainian official, speaking anonymously, revealed that Zelensky was "enraged by the revelations" and had not communicated with Mindich since the scandal broke. The official stated, "What is there to talk about? He can go to hell," adding that the president was "stunned when he found out what was happening."
In response, Zelensky moved quickly to dismiss both the justice and energy ministers on Wednesday. The president has taken the toughest steps he could within his powers, according to the official, who emphasized that the investigation would continue.
International partners are closely monitoring the situation. A European diplomat told AFP that Ukraine's government "needs to be cleaned of corrupt elements," while acknowledging that the case demonstrated the increasing effectiveness of Ukraine's anti-graft institutions. Germany, Kyiv's largest donor within the European Union, expects the government to deepen anti-corruption reforms.
Meanwhile, Hungary's Prime Minister Viktor Orbán, a persistent critic of Ukraine, declared that "a Ukrainian war mafia network with a thousand ties to President Zelensky has been exposed." The International Monetary Fund, which Ukraine is courting for a new loan programme, reiterated that eliminating corruption remains a core requirement for international financial support.
In a statement following his call with German Chancellor Friedrich Merz, Zelensky said only that "Ukraine will do everything necessary to strengthen partners' trust," without directly addressing the scandal involving his former associate.
