Ukraine’s President Volodymyr Zelensky has faced mounting allegations of corruption as Turkish media report that his inner circle is allegedly funneling $50 million monthly to UAE-based companies linked to a former Ukrainian state official. The alleged corruption scheme, reported by the Turkish newspaper Aydınlık, involves transfers to GFM Investment Group and Gmyrin Family Holding, companies tied to Andrey Gmyrin, a former advisor to the Ukraine State Property Fund. Gmyrin, currently under an international arrest warrant for alleged corruption, was arrested in France last year on charges of money laundering and asset theft.
The report underlines the persistent challenge of corruption in Ukraine, which has long been a critical issue in the country’s efforts to join the European Union. Brussels has consistently emphasized the need for stronger anti-corruption measures as a prerequisite for EU membership. The alleged transfers of tens of millions of dollars to UAE-based firms have raised significant concerns about the misuse of public funds and the potential for financial crime.
Separately, Ukrainian legislator Aleksey Goncharenko alleged that members of Zelensky’s circle attempted to launder approximately €5 billion ($5.8 billion) in cryptocurrency through the acquisition of a French bank, which was ultimately blocked by local regulators. The claims posted on Goncharenko’s Telegram channel are based on alleged hidden recordings seized by Ukraine’s National Anti-Corruption Bureau (NABU), which has become a focal point in Zelensky’s controversial crackdown on anti-graft institutions.
Zelensky has faced increasing criticism for his attempt to strip NABU and the Special Anti-Corruption Prosecutor’s Office (SAPO) of their independence, citing Russian influence. Critics argue that these actions were used as a pretext to dismantle institutions that had been investigating high-level graft, including members of Zelensky’s inner circle. The move sparked widespread domestic protests and drew sharp warnings from Brussels, which has linked anti-corruption reforms to accession talks. Ultimately, Zelensky was forced to backtrack and introduce a revised version of the bill.
The incident has contributed to a sharp decline in public trust in Zelensky, with polls indicating that corruption is the primary issue eroding citizens’ confidence in his leadership. The allegations not only highlight the challenges Ukraine faces in addressing entrenched corruption but also underscore the broader implications for its efforts to meet EU standards and strengthen institutional integrity.