NABU has provided Energoatom with a list of individuals suspected of corruption; new suspensions have been issued
13 May 12:23
The National Anti-Corruption Bureau of Ukraine (NABU) has provided the Supervisory Board of Energoatom with evidence of possible crimes committed by company employees. According to a company statement obtained by "Komersant Ukrainian", on May 8, 2026, the Supervisory Board received an official letter from NABU.
This concerns an investigation into a high-profile case codenamed “Midas” and suspicions of criminal offenses by certain Energoatom officials.
On May 11, after receiving additional details from investigators, a decision was made to suspend another Energoatom employee—his position and name were not specified.
As explained by Energoatom, other employees mentioned in the bureau’s letter were suspended back in November 2025 by a government decision.
Security units to be reorganized by June 19
The letter from NABU served as a basis not only for the dismissals but also for changes to the company’s structure. To prevent new schemes, the Supervisory Board ordered the reorganization of the units responsible for economic security and physical security of facilities by June 19.
The Supervisory Board also directed the reorganization of certain structural units of Energoatom responsible for:
- physical security;
- economic security;
- internal risk control.
The company explains that this is necessary to strengthen oversight of the executive body’s activities and prevent new violations.
Energoatom will seek new leadership through international recruiters
Separately, the Supervisory Board approved the engagement of an international executive search firm. It is to assist in selecting candidates for key positions at Energoatom.
The selection process involves:
- Chairman of the Board;
- Director of Nuclear Safety and Operations;
- Chief Financial Officer;
- other positions whose appointments fall within the Supervisory Board’s purview.
“The selection of the Chairman of the Board is a priority; the selection of the Director of Nuclear Safety and Operations and the Chief Financial Officer will proceed in parallel,” Energoatom noted.
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An independent management analysis will be conducted
The Supervisory Board approved two more procurements. The first is a comprehensive management assessment to be conducted by an international auditing or consulting firm.
The assessment is intended to verify the management system’s compliance with the standards of:
- OECD;
- ISO;
- COSO;
- IPPF.
A public report on the results of this assessment must be submitted by the end of 2026.
The second procurement concerns the engagement of an independent external legal advisor who will support the Supervisory Board and its committees on an ongoing basis.
What the Supervisory Board Told Employees
In a message to employees, the Supervisory Board emphasized that over 30,000 Energoatom employees ensure the safe operation of the national nuclear fleet, which generates over 55% of Ukraine’s electricity.
The company also noted that employees helped overcome Ukraine’s dependence on Russian nuclear fuel by transferring uranium supply, enrichment, and fuel production to Western partners. It is specifically mentioned that the company contributed over 18.5 billion UAH to support the defense effort on the front lines.
At the same time, the Supervisory Board acknowledged that isolated instances of unacceptable behavior and harmful actions in recent years have undermined the culture of compliance necessary for a nuclear operator. The Board stated its intention to put an end to this, restore integrity, and strengthen a culture of accountability.
What changes has the Supervisory Board already implemented?
The statement also outlines the framework for the Supervisory Board’s activities starting in February 2026. It took office with a mandate to restore accountability, complete corporate governance reform, and position “Energoatom” as a reliable investment enterprise.
Among the changes already implemented:
- termination of the powers of one director, who was suspended in connection with the “Midas” operation;
- approval of a comprehensive analysis of the period during which the alleged scheme may have been in operation;
- preservation of corporate documents potentially covering the period starting January 1, 2022;
- full cooperation with NABU, SAPO, and the State Audit Service;
- the acquisition of an independent whistleblower reporting system;
- establishment of four committees of the Supervisory Board;
- the selection process for the corporate secretary and heads of internal audit, compliance, and risk functions.
Separation of the roles of Chairman of the Board and Director of Nuclear Safety
Separately, the Supervisory Board approved the modernization of the executive management model. This involves separating the roles of the Chairman of the Board and the Director of Nuclear Safety and Operations.
The company explains that previously, Energoatom operated under a legacy Soviet model, where these two functions were combined.
The Supervisory Board views the separation of roles as part of the transition from Soviet management approaches to Western operational standards.
Scandal at Energoatom
As a reminder, businessman Timur Mindich is one of the figures implicated in a high-profile corruption scandal at Energoatom. On November 10, NABU and SAPO published the so-called “Mindich tapes,” which indicate that a kickback scheme was operating at Energoatom—contractors were required to pay 10–15% of the contract amount.
Former Justice Minister Herman Halushchenko and former Energy Minister Svitlana Hrynchuk, who have since resigned, were also implicated in the scandal. Mindich is also suspected of pressuring current National Security and Defense Council Secretary Rustem Umerov, who previously served as defense minister.
Who Joined Energoatom’s New Supervisory Board
The Cabinet of Ministers has launched a large-scale audit of state-owned companies, paying particular attention to the energy sector following the release of the NABU “Midas” case regarding large-scale corruption in the energy sector . On January 28, the Cabinet of Ministers of Ukraine approved the new composition of the supervisory board of NAEK “Energoatom.”
The new supervisory board of NAEK “Energoatom” consists of seven members, four of whom are independent international members.
Independent members of the supervisory board:
- Rumina Velshi — an international expert with over 40 years of experience in nuclear safety. She previously headed Canada’s nuclear regulator and the IAEA’s Commission on Safety Standards.
- Laura Garbenčiūtė-Bakienė — a finance and audit specialist with 25 years of experience. She has held senior positions at PwC and has experience working with strategic facilities, including the Ignalina Nuclear Power Plant.
- Patrick Fragman is an international executive and former president and CEO of the American company Westinghouse Electric Company.
- Brice Buyon is a lawyer and corporate governance expert who has held senior positions at the French energy group EDF.
Government representatives on the supervisory board:
- Deputy Minister of Economy, Environment, and Agriculture Vitaliy Kindrativ;
- Serhiy Sukhomlyn, Head of the State Agency for Infrastructure Restoration and Development;
- Maksym Malashkin, State Secretary of the Ministry of Energy of Ukraine.
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