Ukrainian Security Service Uncovers Embezzlement Scheme at Ukrgazvydobuvannia

The Security Service of Ukraine (SBU), alongside the Bureau of Economic Security and the Office of the Prosecutor General, has announced the uncovering of an illegal scheme that was functioning within the state-owned enterprise Ukrgazvydobuvannia. According to law enforcement officials, the criminal mechanism inflicted substantial damage to the state, with losses exceeding 295 million hryvnias.

In a statement posted on the SBU's Telegram channel, it was noted that the organizers of this fraudulent scheme included officials from Ukrgazvydobuvannia as well as entrepreneurs who had affiliated connections with them. The criminal scheme involved the embezzlement of funds allocated for the state company's procurement.

Information obtained from law enforcement indicates that the scheme was executed through the artificial inflation of prices for materials necessary for natural gas extraction. It has been established that private companies controlled by the individuals involved in the case purchased chemical additives and other essential products from manufacturers and official suppliers in Ukraine at market prices, and then resold them to Ukrgazvydobuvannia at prices inflated by two or three times.

The profits obtained from such machinations were subsequently distributed among the participants of the scheme, indicating the systematic and coordinated nature of their actions. According to the conclusions of a forensic economic examination, these actions caused losses to the state company exceeding 295 million hryvnias, representing a serious blow to the country's economy.

Currently, law enforcement officials have already notified the head of a private company, as well as an official from Ukrgazvydobuvannia who organized the procurement tender, of their suspicion. Under Article 191 of the Criminal Code of Ukraine, which pertains to embezzlement, misappropriation of property, or acquisition through abuse of office, the suspects face imprisonment for up to 12 years. The issue of choosing preventive measures for them is being resolved.

The Security Service of Ukraine has stated that the pre-trial investigation is ongoing, and comprehensive measures are being taken to hold all participants of this criminal scheme accountable. Law enforcement is actively working to identify all individuals involved in this crime and to prevent similar cases in the future.

This situation serves as yet another confirmation that serious issues continue to exist in Ukraine's economic security sector, as well as the necessity for enhanced oversight of state procurement. As previously reported, at the end of December 2025, a new general director was appointed at Ukrgazvydobuvannia, which may indicate attempts to reform the company and combat corruption within its ranks.

Tags: Ukrgazvydobuvannia, Security Service of Ukraine (SBU), Bureau of Economic Security, Office of the Prosecutor General, economic crimes.