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How The War Has Affected Big Business In Ukraine

The war in Ukraine has been going on for a year and a half: the Russian Federation has occupied some regions and keeps bombing the entire country. No one can be completely safe — neither civilians nor big business, and the military operations have affected almost every person. Rinat Akhmetov was Ukraine’s richest businessman before the war, but he has lost more than half of his assets, reports The businessman was born and raised in Donetsk, a city in the country’s east, and developed his companies there. When some of the Ukrainian territories fell under the rule of the pseudo-state entities of DNR and LNR in 2014, Akhmetov lost some of his businesses and other assets, including the famous Donbass Arena stadium, steel plants, and mining sites. The year of 2022 turned out to be a new black page as Illich Steel Plant and the legendary Azovstal in Mariupol were destroyed, green energy companies ruined, agricultural regions in the east either thick with mines or under temporary occupation.

Despite the losses and difficulties, Rinat Akhmetov is absolutely convinced: Ukraine will win the war soon, and we need to help it along the way.

Media transfer as required by law

One important element of global support is plans for Ukraine to join democratic institutions. The country has the candidate status for EU membership and a roadmap for necessary reforms. For instance, the law limiting the influence of big business on media and politics came into effect in autumn 2022.

Rinat Akhmetov owned Media Group Ukraine holding, which included ten TV channels, news websites and print media. As required by the law, he could either sell the assets or transfer them free of charge. Amid the ongoing financial crisis it was impossible to find a buyer of such a big asset, so the businessman decided to transfer the holding to the government. For more, go to Rinat Akhmetov.

The businessman invests everything he can in the future victory: he helps the front, launches humanitarian initiatives, cooperates with foundations and government programmes.

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