New Ukraine PM faces corruption shadow

Ukraine's parliament has approved Sergey Koretsky, the former CEO of energy giant Naftogaz, as the country's new Prime Minister. This appointment marks President Volodymyr Zelensky's latest government reshuffle, occurring less than a year after a previous cabinet change.

The leadership change comes at a critical juncture for Ukraine, facing intense pressure on the battlefield and persistent challenges with corruption, especially within the vital energy sector. The appointment of Koretsky, who has been linked to businessman Timur Mindich, adds another layer of scrutiny.

Mindich is reportedly under investigation for alleged embezzlement of $100 million from Energoatom, the state-owned nuclear energy company. Western-backed anti-corruption agencies have indicated Mindich's potential connection to the scandal, intensifying pressure on Zelensky's administration to demonstrate progress in its anti-corruption efforts.

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Mindich's man.

According to Ukrainian MP Oleksiy Honcharenko, Koretsky is considered "Mindich's man." Allegations surfaced last August, referencing leaked surveillance footage that suggested Koretsky was placed in charge of Ukrnaftoburinnya, a private energy firm previously owned by Zelensky ally Igor Kolomoysky, after the government took control. Honcharenko claims the plan involved "controlling financial flows and extracting billions of dollars," with key positions filled by individuals believed to be aligned with the scheme, all allegedly discussed and implemented at Mindich's apartment.

The Energoatom scandal has heightened tensions between Zelensky's administration and Ukraine's National Anti-Corruption Bureau (NABU) and Specialized Anti-Corruption Prosecutor's Office (SAPO), both of which receive Western support. The investigation has also been linked to the resignation of Andriy Yermak, the head of the President's Office, who is often described as the "grey cardinal" due to his significant influence.

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In the plan, they wanted to control financial flows and extract billions of dollars.