Dutch-registered company is involved in Yanukovych’s coal business

Dutch-registered company is involved in Yanukovych’s coal business Ukrainian ex-president Viktor Yanukovych, his son Alexander, and their entourage are responsible for use of Ukrainian coal reserves and public subsidies in order to obtain super-profits, according to numerous journalistic investigations. Multiple evidence show that Yanukovich’s business was relying on Ukraine’s infamous ‘copanky’ illegal mines which produce millions of tons of hard coal yearly and provided around 10 percent of total coal production in Ukraine in 2012.

Makeshift coal mining, which was producing annual revenues close to $ 1 billion, was operating at full scale and was backed up by officials. “Why no one checked or closed business around illegal mines? In our country, this was possible with only one business – owned by the Yanukovich clan. And if EU is up to fight climate change than it’s time to fight corruption which flourishes around extraction of fossil fuels.”
– claims Oleg Savitsky, NECU climate and energy campaigner.

NECU recent report “Pitch-black Dutch trace of Yanukovych’s business” gives a summary of Ukrainian journalistic investigations which have revealed massive corruption in coal sector involving MAKO Holding, a Dutch-registered company owned by the ex-president’s eldest son Alexander Yanukovych.

European countries need to bring to justice all induviduls and legal persons who were involved in money laundering associated with massive corruption in Ukraine, as they share the responsibility for the country’s economic crimes. European states cannot turn a blind eye to criminal activity committed by companies registered on their territories and should bring to account everybody who took advantage of activities of thise companies. Dutch government and other EU authorities should act now to prevent MAKO Holding BV from moving its capital away.

For more information please contact:

Oleg Savitsky,
Climate and Energy campaigner
National Ecological Center of Ukraine
savitsky@necu.org.ua
+380 44 353 78 42

Теги coal Yanukovych