“The corruption case that brought down Mr. Yermak has highlighted the role of money as a glue in Ukrainian politics. Ukraine’s presidents have used such favors to gain and maintain allies. Past scandals in previous administrations exposed political slush funds collected from wealthy businessmen or skimmed from state enterprises such as a natural gas company and a defense contractor.
Mr. Yermak’s predecessor as chief of staff, Andriy Bohdan, in a 2021 interview all but admitted a continuation of the approach under Mr. Zelensky.
Speaking to a Ukrainian talk show host, Mr. Bohdan said that members of Parliament in Mr. Zelensky’s party were paid under-the-table bonuses for delivering votes. He called it an informal salary in “black money” and said it was raised from businesses, without specifying how.” [1]
Some people make a point, that Ukrainians are stealing not our, but their own money. This is funny, Zelensky’s government is in debt, and their own money was stolen long time ago. Sure, they are stealing our money now.
Ukraine is heavily in debt, and multiple reports confirm significant past and ongoing corruption scandals that involve both Ukrainian funds and raise concerns about the oversight of Western aid
Ukraine's Debt Status
High Debt Levels: As of mid-to-late 2025, Ukraine's national public debt has reached record highs, nearing or exceeding 100% of its Gross Domestic Product (GDP). This means nearly half of the state's domestic revenue is dedicated just to servicing debt interest payments.
Military – industrial complex financing: Ukraine is dedicating nearly all its domestic tax revenues to its defense effort and relies heavily on international financial assistance to maintain essential government operations, such as paying salaries and pensions.
External vs. Internal Debt: External debt (owed to other countries and international institutions like the EU and World Bank) makes up the majority of its debt, far exceeding domestic borrowing.
Corruption and Oversight
There have been significant corruption issues within Ukraine's government, an issue that officials and international partners have acknowledged and are attempting to address.
Recent Scandals: Major corruption investigations in late 2025 implicated high-ranking officials and a former business partner of President Zelensky, leading to resignations and arrests. One reported case involved siphoning $100 million from a state-owned nuclear power company.
Western Aid Concerns: U.S. oversight bodies like the Government Accountability Office (GAO) have issued reports highlighting the risks of corruption and misuse of recovery funds due to vulnerabilities in procurement processes and challenges in on-the-ground monitoring in a conflict zone.
Oversight Measures: To mitigate these risks, extensive oversight mechanisms are in place for Western aid, involving multiple U.S. inspectors general, the World Bank, and Ukrainian anti-corruption agencies. Most aid is not delivered as pallets of cash but is managed through structured programs and trust funds with specific conditions and accountability requirements.
Ukrainian Action: Ukrainian authorities have been actively investigating and prosecuting corruption cases themselves, with the head of the anti-corruption committee noting that such actions show the system is working.
In summary, Ukraine is heavily indebted and faces ongoing challenges with high-level corruption. The debate centers on whether the structured oversight measures are sufficient to prevent the misuse of vital foreign assistance needed for its survival during the conflict.
Mr. Yermak is moving to the zone of killing by drones, zone of military activity. Does it mean, that as a previous main negotiator with Americans, he knows that Americans lost patience with Ukrainians and all Ukrainian military activity will stop now? Without American targeting information Ukrainians can’t do anything of significance.
1. In Firing His No. 2, Zelensky Loses Both a Negotiator and an Enforcer: News Analysis. Kramer, Andrew E. New York Times (Online) New York Times Company. Nov 29, 2025.
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