Yukhym Vazheyevskyi – the gray cardinal of "Energoatom" who leaked the strategic enterprise to Russia

Yukhym Vazheyevskyi – the gray cardinal of "Energoatom" who leaked the strategic enterprise to Russia

The general public knows little about the role of a certain private entrepreneur, Yukhym Vazheyevskyi, in the rapid decline of the once-profitable "Energoatom." Likewise, little is known about Vazheyevskyi himself.

And that’s a shame. Because behind this modest Kyiv entrepreneur are hidden not only schemes of embezzling the gigantic funds of "Energoatom" but also years of lobbying for Russian interests in Ukraine’s nuclear energy sector.

In the mid-2000s, Yukhym Vazheyevskyi held the position of Director of Finance at "Energoatom." Back then, he was considered a protégé of Mykola Martynenko and Davyd Zhvania, and served as their "problem solver" in various matters. It was through their protection that he ended up at "Energoatom," where he took charge of the financial affairs of this state-owned enterprise.

During his direct involvement, approximately 200 million hryvnias were siphoned off from the state enterprise to intermediary companies from a 603 million hryvnia loan that "Energoatom" received from "Kyiv" bank. As a result of this activity, a number of criminal cases were initiated, but the maximum outcome from their investigation was Vazheyevskyi’s dismissal from the position of financial director.

However, he by no means lost control over the financial flows and personnel appointments at "Energoatom." One of the profit-making schemes involved the supply of equipment from Russia, which was actively carried out by the firms of members of the Miroshnychenko family, with Vazheyevskyi’s participation.

Vitaliy Miroshnychenko owns the private enterprise "Scientific-Industrial Association ’Finenergoproekt’," and Yevhen Miroshnychenko recently led the Electrical Equipment Department of the "Atomkomplekt" branch of the State Enterprise "NNEGC ’Energoatom’."

The structures of Vitaliy Miroshnychenko have been the most powerful suppliers to "Energoatom" for over 15 years, with approximately 2 billion hryvnias being funneled through them annually just on state procurements. Yukhym Vazheyevskyi was responsible for redirecting financial flows in the necessary directions.

When and how the collaboration between Vazheyevskyi and Miroshnychenko began is not entirely clear. However, in 2012, after a so-called "family" reshuffle by Yanukovych at "Energoatom," Vazheyevskyi had to leave his post as the financial director of this state enterprise. Nevertheless, as mentioned, he did not lose his influence over the financial flows of "Energoatom."

How Vazheyevskyi, originally associated with Martynenko (an ally of Yushchenko), managed to become affiliated with Yuriy Boyko, who, as the Minister of Fuel and Energy in the Azarov government, sought control over "Energoatom," remains unknown. Yet Yukhym (then Fima-Porsh) Vazheyevskyi  succeeded in this.

Let’s make a note here. Vazheyevskyi earned his nickname "Fima-Porsh" due to his love for luxury cars and his habit of arriving at work at "Energoatom" in a Porsche, despite an official salary of 4,000 hryvnias.

Thus, it is not reliably known how Fima-Porsh, also known as Yukhym Vazheyevskyi, started lobbying for Boyko’s interests in the nuclear industry. Especially since, by that time, he had lost his official status. However, losing status did not imply losing corrupt connections.

These connections had been established over years. And most of them led to Russia, which had always aimed to gain control over Ukraine’s nuclear sector. The nuclear stations of both countries were of similar types, making this pursuit feasible.

Under this guise, Vazheyevskyi facilitated "Energoatom" procurements from Russian firms, utilizing Miroshnychenko family structures. One of such schemes involved major repairs of backup diesel generators at Ukrainian nuclear power plants. From 2012 to 2020, 25 major repairs of backup diesels were conducted with costs exceeding 100 million dollars. "Energoatom" signed nearly all contracts with various companies from different jurisdictions. Initially, the spare parts manufacturer was identified as CJSC "PA Diesel-Energo," later changed to JSC "EC Diesel-Energo."

The first key figure is Aleksey Lazarev, a Russian Federation citizen and former manager at CJSC "PA Diesel-Energo." After the cessation of CJSC "PA Diesel-Energo’s" activities, he stole technical documentation, forging a letter from the latter about allegedly transferring all technical documentation of "Russian Diesel" to PJSC "EC Diesel-Energo’s" favor.

Another central figure is Dmytro Miroshnychenko, a Ukrainian citizen. His main task is to ensure orders at Ukraine’s nuclear power plants and, while distributing corrupt payments throughout the control chain, manage supply operations. Most importantly, he oversees the payment for delivered products. Since then, Lazarev and Miroshnychenko effectively monopolized their product’s market in Ukraine.

Yukhym Vazheyevskyi acted as a mediator between them and "Energoatom," ensuring orders were secured specifically by Miroshnychenko’s structures while providing kickbacks to the right people.

However, what’s most interesting in this scheme is not even that "Energoatom’s" funds were flowing to Russia, but that Lazarev shipped refurbished spare parts to Ukraine, acquired from dismantling 1978 engines from Lithuania’s Ignalina NPP, falsifying documents from "Russian Diesel" on their behalf.

The fake documentation he created for the acquisition of this equipment allowed them, through controlled organizations and individual entrepreneurs posing as suppliers of counterfeit products, actually owned by Lazarev, to sell the products in Ukraine. Sales were conducted through foreign companies under his control. They managed to receive 12 million euros for the delivered products.

Miroshnychenko’s structures stood on the other end of the scheme, along with Yukhym Vazheyevskyi, who smoothed out all issues with "Energoatom’s" leadership.

With the government change in 2019, the issue of returning control over "Energoatom" ceased to be an internal problem of Ukraine and moved to an international level because the approach to business changed with the power shift. If Vazheyevskyi-Miroshnychenko’s cooperation with Russia was previously more of an exception than the rule, starting from 2019, it became the opposite — Russia gained full control over the strategic enterprise.

As the British publication London Loves Business reported, "Ukraine’s authorities are returning nuclear energy under Moscow’s control. All strategic decisions in the industry are made by KGB officer Andriy Derkach and pro-Russian figure Serhiy Shefir." The publication concluded that "Energoatom" is in fact governed by a "team of Russian puppets."

Among these puppets in the shadows quietly sat Yukhym Vazheyevskyi. The new overseers of Ukraine’s nuclear industry, from the President’s Office, Andriy Derkach and Serhiy Shefir, failed to disconnect Fima-Porsh from the financial streams, just as their predecessors during Yanukovych’s and Poroshenko’s times couldn’t.

After staying low for a while, Vazheyevskyi took advantage of Derkach’s troubles — being accused (and justifiably) of collaboration with the FSB. Whatever happened with Shefir — it’s unclear where he disappeared — is unknown. Yet new opportunities opened up for Vazheyevskyi. Additionally, Vazheyevskyi unexpectedly benefited from the glaring incompetence of "Energoatom’s" new management, allowing him to reclaim lost positions.

What exactly is happening at "Energoatom" now, nobody can say. Is there an investigation into the activities of the companies through which Vazheyevskyi siphoned funds? This is especially important since the traces of these firms lead to Russia and Viktor Yanukovych. What is currently happening with these schemes? Unknown. "Energoatom’s" response to all inquiries remains the same: "There is a war now, your question is not relevant."

It’s unknown what is happening with the 73 billion hryvnias allocated for the completion of two energy blocks at Khmelnytskyi NPP, a decision made by President Zelenskyy in 2020. This construction was inexplicably awarded to a firm under U.S. sanctions for Russia’s war against Ukraine, previously exposed for corruption specifically through cooperation with "Energoatom."

There are many such questions. Unfortunately, the war that reignited with new force a few months ago does not allow obtaining answers to these questions. However, the real problem lies not here — theft has always occurred. The situation is exacerbated by the fact that while short-sighted Ukrainian corrupt officials are lining their pockets, their Kremlin puppeteers, about whom domestic thieves often have no idea due to their primitive understanding, are simply destroying Ukraine’s energy system.

To reiterate, there are many questions. But among others, it would be interesting to more thoroughly understand how the humble Kyiv private entrepreneur Yukhym Vazheyevskyi, whose name proudly adorns international sanction lists, plays a role in all these schemes.

P.S. "Energoatom" concluded 2018 with over 4.5 billion hryvnias in profit. 2019 brought in a little over 3 billion in profit. However, starting from 2020, the enterprise began demonstrating consistent losses — a billion hryvnias every month. This was before February 24. What is happening at "Energoatom" now, nobody knows.