Tags: ukraine | scandal

Ukraine Investigates Ex-Minister Over $3 Billion Russian Bailout

Thursday, 25 Sep 2014 07:08 AM

Ukraine opened a criminal probe into former Finance Minister Yuriy Kolobov over a $3 billion bailout by Russia last year.

Kolobov abused his office and violated the budget law by organizing the bond sale and illegally transferring a $450,000 fee to Russia’s state-run VTB Capital for placing the debt, the State Security Service, or SBU, said today in a statement on its website. Other “top officials” were involved, according to the Kiev-based service, though it didn’t name them.

Ukraine’s then-President Viktor Yanukovych agreed on a $15 billion financial rescue package with Russian leader Vladimir Putin in December. He was ousted two months later after deadly protests sparked by his rejection of a European integration pact. Ukraine accuses Russia of stoking the conflict that’s ravaged its easternmost regions. Russia denies involvement.

Dmytro Gromakov, a spokesman for Kolobov, couldn’t comment immediately when contacted by Bloomberg.

The $3 billion bond matures next year and carries a yield of 5 percent. The Ukrainian government’s dollar-denominated debt due 2017 advanced, pushing the yield down 52 basis points to 14.146 percent as of 12:18 p.m. in Kiev, the lowest level since Sept. 16, data compiled by Bloomberg show.

 

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Ukraine opened a criminal probe into former Finance Minister Yuriy Kolobov over a $3 billion bailout by Russia last year. Kolobov abused his office and violated the budget law by organizing the bond sale and illegally transferring a $450,000 fee to Russia's state-run VTB...
ukraine, scandal
192
2014-08-25
Thursday, 25 Sep 2014 07:08 AM
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