Ukraine’s Ministry of Economy will present proposals for a new Supervisory Board of “Energoatom,” the state nuclear energy operator, within a week, in cooperation with the G7 partners, the ministry announced on Wednesday.
Reinforcing corporate governance amid war
According to a statement released by the Ministry of Economy, Environment and Agriculture, the new board will be submitted to the government following an instruction from Prime Minister Yuliia Svyrydenko. Work on candidate lists has already begun, and an external advisor has been appointed to assist in the process.
“In the context of a full-scale war, the Supervisory Board of a state energy company must not only oversee strategic development but also ensure crisis management, timely response to risks, and the security and stability of operations,” the ministry said.
The ministry noted that the restructuring aims to strengthen anti-crisis management, improve coordination with anti-corruption and audit agencies, and enhance transparency in cooperation with international partners and the public.
The update, developed jointly with G7 representatives, is part of Ukraine’s broader effort to adapt corporate governance systems to wartime challenges – emphasizing faster decision-making, accountability, and resilience.
While stressing that the previous board was not involved in actions under investigation, the ministry expressed gratitude for its contribution in building the foundations of modern corporate governance:
“We are grateful to its members for helping create a framework for the company’s transformation,” the statement added.
Audit and anti-corruption efforts
The overhaul follows a major corruption investigation at Energoatom. Earlier this week, Ukraine’s National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) exposed a scheme in which senior officials allegedly demanded kickbacks – illicit commission payments of 10-15% from contractors.
According to NABU, the company was effectively controlled by an organized criminal group that laundered funds through an office in central Kyiv linked to the family of former parliamentarian and traitor Andriy Derkach. Among those named in the case was then-Energy Minister and later Justice Minister Herman Halushchenko.
In response, the Cabinet of Ministers dismissed the Supervisory Board, and Svyrydenko announced Halushchenko’s suspension from his duties. The ministry emphasized that quick action in the Energoatom case is essential not only for internal stability but also for fulfilling Ukraine’s commitments to the IMF, World Bank, and European Union.
Zelensky backs crackdown despite ties to key figures
Despite ties to several figures implicated in the Energoatom corruption scandal – including his longtime political ally Herman Halushchenko and businessman Tymur Mindich, allegedly known as “Carlson,” the scheme’s organizer and a close friend with whom he has celebrated private events – Ukrainian President Volodymyr Zelensky publicly backed NABU’s exposure of the case.
“In any effective action against corruption, the inevitability of punishment is essential,” he said in his Monday evening address. “Everyone who has built corrupt schemes must face a clear procedural response. There must be convictions,” Zelensky added, calling on government officials to cooperate with NABU and law enforcement to ensure “real results.”
Ongoing review and international commitments
Meanwhile, the State Audit Service has launched a comprehensive review of the company’s operations. Procurement audits are to be completed within 15 working days, while a full audit must be finalized within 90 days. Findings will be submitted to law enforcement and anti-corruption agencies before being reported to the government.
“This demonstrates the state’s readiness to act according to international standards and to protect partner investments even under difficult conditions,” the Ministry of Economy said.
Background
Energoatom, Ukraine’s largest energy enterprise, has faced growing scrutiny in recent months as Kyiv steps up reforms in state-owned companies. The restructuring of its supervisory board is meant to restore trust and ensure oversight in one of Ukraine’s most critical sectors.