Oleksandr Yaroslavskyi's business: industrial losses, bank profits, and ongoing searches

Oleksandr Yaroslavskyi's business: industrial losses, bank profits, and ongoing searches
Oleksandr Yaroslavskyi's business: industrial losses, bank profits, and ongoing searches

Fatal accident and driver substitution

On 9 February 2022, at the 534th kilometre of the Kyiv–Kharkiv–Dovzhansk highway, a Mercedes-Benz G 63 AMG, which was part of Oleksandr Yaroslavskyi's motorcade, ran over a pedestrian, killing him. Court records state that the incident occurred at 22:55 on wet asphalt. The vehicle's speed was 113 km/h, and the car was in working order. The victim was on the roadway wearing dark clothing without reflective elements. The driver took no action to reduce speed, hit the person, and drove on.

Twenty-six minutes after the accident, the driver called his acquaintance Oleksandr Berezhnyi, asking him to take the blame. Berezhnyi, who was at home, agreed. It was only on 9 May 2025 that the Kyiv District Court of Kharkiv established that Andrii Lihus had been behind the wheel. Lihus and Berezhnyi were sentenced to three years in prison for concealing the crime, but both were released with a one-year probation period. They were also ordered to pay over 275,000 hryvnia to cover the cost of expert examinations. Part of the case regarding leaving the victim in danger was closed due to the statute of limitations expiring. Oleksandr Yaroslavskyi is listed as a witness in the verdict. A verdict for concealing the driver exists, but criminal liability for the death has not been established. After the accident, the businessman left Ukraine.

Financial state of industrial assets

Before the start of the full-scale war, Forbes estimated Oleksandr Yaroslavskyi's assets at $820 million. Currently, the industrial part of the DCH holding is undergoing restructuring and suffering losses. Yaroslavskyi controls 91.76% of the shares of the Kharkiv Pipe Plant (KTP) through the Cypriot company UGDC Holding. In 2025, the court opened restructuring proceedings and approved a repayment schedule for creditors until 17 March 2029, including those who voted against it, with the simultaneous lifting of seizures. Media mention a debt of 2.29 billion hryvnia, but this figure is not confirmed in the open text of the court decision. In the first half of 2026, KTP generated revenue of 59.2 million hryvnia and incurred losses of 17.8 million hryvnia.

The Dnipro Metallurgical Plant, 97.73% of which is owned through the Cypriot Drampisco Limited, is undergoing restructuring until February 2028. The enterprise's revenue fell from 9.9 billion hryvnia in 2021 to 1.66 billion hryvnia in 2025. A profit of 1.7 billion hryvnia turned into a loss of 1.2 billion hryvnia. At LLC "Sucha Balka", where DCH controls 77.41% of the shares, revenue decreased from 7.7 to 2.7 billion hryvnia. Instead of a profit of 1.3 billion hryvnia, the company recorded losses: 334 million hryvnia in 2024 and 420 million hryvnia in 2025. The company Kharkiv Palace also showed negative dynamics: a loss of 45.5 million hryvnia in 2024 and 25.5 million hryvnia in 2025.

Profitability of the financial sector

Against the backdrop of industrial losses, the group's financial business demonstrates profitability. Kredyt Dnipro Bank, acquired from Viktor Pinchuk, earned approximately 288 million hryvnia in net profit in 2025, while the volume of client funds grew to 26.06 billion hryvnia. Insurance company INGO earned 348 million hryvnia, and Oranta — 279 million hryvnia. In the first half of 2026, DCH reported paying 1.259 billion hryvnia in taxes and nearly 358 million hryvnia in unrefunded VAT.

Investigative actions and inquiries

Law enforcement agencies conducted searches at the group's offices for the second time. On 29 May 2025, police carried out 49 searches in Kyiv, Kharkiv, Odesa, and Dnipro. DCH representatives confirmed these actions and noted that law enforcement had already operated at the same addresses in May 2023.

One of the investigations concerns 5.8 billion hryvnia of Ukrnafta. According to law enforcement, petroleum products from the Kremenchuk Refinery were sold through controlled companies, and the funds obtained were transferred to enterprises of the financial-industrial group through fictitious contracts. Former head of Ukrnafta Pavlo Ovcharenko is on the international wanted list, while former acting head Ruslan Liapka has received several charges. No charges have been filed against Oleksandr Yaroslavskyi in this case.

In a separate case No. 42022000000000719, "Sucha Balka", the Dnipro Metallurgical Plant, and "Blastko" are involved. The investigation is examining operations involving fictitious tax credits and VAT refunds; publications estimate the potential damage at 25.5 billion hryvnia. Here too, no charges have been filed against Oleksandr Yaroslavskyi.

Summary

Two individuals have already been convicted for substituting the driver after the fatal accident. Oleksandr Yaroslavskyi remains abroad. KTP received a payment extension until 2029, and DMP — restructuring until 2028. The group's industry is suffering losses, while the banking and insurance sectors remain profitable, and two waves of searches have taken place at DCH offices.

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