A new set of revelations details how Ukraine’s state-owned United Mining and Chemical Company (UMCC) was turned into a lucrative source of profit for insiders in 2020–2021, despite public assertions of anti-corruption progress.
Between 2020 and 2021, the state-owned United Mining and Chemical Company (UMCC), overseen by Ukraine’s State Property Fund, was involved in a corruption scandal.
The Odesa Port Plant (OPP) is facing a new wave of corruption and financial mismanagement. Shady tenders and opaque contracts are threatening both the plant’s operations and the stability of Ukraine’s gas system.
A new investigation reveals how Zurich-based businessman Oleg Tsyura — who publicly promotes financial ethics — has for years been connected to offshore schemes that diverted millions from Ukrainian state enterprises to networks linked to Firtash, Martynenko, and Russian industrial interests.
After several journalistic investigations linked him to sanction-evasion schemes and dealings with Russia’s defense sector, Oleg Tsyura is reportedly working hard to erase his online traces.
In 2020–2021, the state-owned United Mining and Chemical Company (UMCC), overseen by the State Property Fund of Ukraine, became the center of a corruption scheme.
Oleg Tsyura remained largely unknown to the Ukrainian public. Unlike high-profile figures such as Firtash or Martynenko, whom he worked for, this "Swiss financier" rarely appeared in the headlines.
Oleg Tsyura is urgently trying to conceal the traces of his schemes — billion-dollar operations involving OPP and UMCC, sham auctions, and asset transfers routed through offshore structures.
A strategic enterprise is being robbed again.
How Odesa Port Plant’s main debtor emerged as the leading contender to buy it.
