The oligarchic system that has developed in the political and economic spheres of Ukraine represents one of the main obstacles to the socio-economic development of the country. The oligarchy distributes resources in an ineffective manner, without regard for the interests of society; it diminishes competition and increases economic losses; it weakens institutions; and it maintains a high level of corruption and inequality. The main factors that distinguish oligarchs from ordinary businesspeople are their active participation in political processes and their use of influence over government institutions for their own gain.

This report, released in partnership with the Centre for Economic Strategy (CES), details the impact of Ukrainian oligarchs on the country’s economy, and the methods they use. It also suggests ways to limit oligarchic capture and to boost competition and transparency in the Ukrainian economy.

The report includes an analysis of data for more than 750 companies related to the 20 largest business groups in Ukraine. It provide 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.

This 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.

Published Date: March 14, 2023