New Report Details Impact of Ukrainian Oligarchs on Country’s Economy

Statement/News Release

The Center for International Private Enterprise (CIPE), in partnership with the Centre for Economic Strategy (CES), today released the report “Oligarchic Ukrainian Capital,” which details the impact of Ukrainian oligarchs on the country’s economy, and the methods they use. The report also suggests ways to limit oligarchic capture and to boost competition and transparency in the Ukrainian economy.

“Ukraine has for years battled against corruption and an oligarchic class that sought to extract rents and limit Ukraine’s full potential for their personal benefit,” said Andrew Wilson, Executive Director of CIPE. “The report commissioned by CIPE is one of many efforts to support Ukrainian businesses and develop anti-corruption measures that help establish trust and accountability, as well as build a strong foundation for a post-war economic recovery.”

The report includes the analysis of data for more than 750 companies related to the 20 largest business groups in Ukraine. The data includes financial reports, ownership structures, and histories of privatization and regional impact within Ukraine, as well as state statistics and sectoral data provided by industry sources. Qualitative methodology includes the analysis of information streams on business, regulation, behavior and intentions of oligarchs, as well as relevant public-sector policies.

The report also provides comprehensive recommendations to Ukrainian and western stakeholders, from the public sector to civil society organizations, regarding policies and actions that may help expedite the transformation to a more competitive Ukrainian economy. The in-depth publication is one of a series of reports and policy briefs commissioned by CIPE and local partners to inform reconstruction plans and support accountable investment. CIPE has maintained a presence in Ukraine for over three decades and has a large network of private sector and civil society partners.


About CIPE: The Center for International Private Enterprise (CIPE) is a global organization that works to strengthen democracy and build competitive markets in many of the world’s most challenging environments. Working alongside local partners and tomorrow’s leaders, CIPE advances the voice of business in policy making, promotes opportunity, and develops resilient and inclusive economies. Visit cipe.orgLinkedInFacebook, or Twitter to learn more about CIPE.

About CES: The Centre for Economic Strategy is an independent research agency on public policy issues. Established in 2015, its mission is to support Ukraine’s reforms to achieve sustainable economic growth. The Centre contributes to the development of Ukraine’s economic growth strategy, performs an independent analysis of the most critical aspects of national policy, and works on strengthening public support for reforms.

Published Date: March 14, 2023