Profits of 1 billion: is the sanctioned Bogolyubov enriching himself at the expense of the port of “Pivdenny”?

The Borivazh grain terminal, located in the Pivdennyi port, has been embroiled in a new scandal. Despite the asset being seized in March 2025 and transferred to ARMA, companies associated with oligarch Gennady Bogolyubov continue to profit from his work.

Public figure Oleksiy Martynov appealed to the Prosecutor General of Ukraine, claiming that due to the inaction of prosecutor S. Demyanchuk, the deadline for submitting materials to the ARMA case was missed. He stated that Bogolyubov received a profit of 1 billion hryvnia and accumulated grain worth $25 million, without any consequences for himself. According to him, he uses part of the stolen funds to support other sanctioned individuals.

The Borivazh grain terminal was controlled by companies associated with the former owners of PrivatBank — Ihor Kolomoisky and Gennady Bogolyubov. Problems with PrivatBank’s capital were discovered back in 2016, as a result of which a significant part of its assets, including Borivazh, was pledged for approximately UAH 5 billion.

After Bogolyubov’s arrest in March 2025, companies associated with Bogolyubov sought to appeal the decision, but the court denied their motions. Currently, the companies that controlled the terminal are accused of causing multi-billion-dollar losses to the state budget and tax evasion during 2022-2024.

A criminal case has been opened in the Odessa region under Part 3 of Article 212 of the Criminal Code of Ukraine for tax evasion. Still, the results of the investigation are not yet known.

Martynov emphasized that a significant amount of grain is still stored at the terminal, and despite the court’s decision, a person under sanctions continues to enrich himself with state resources. The StopKor editorial office has sent requests to the relevant authorities to verify these facts.

We are awaiting responses from the authorities and will continue to monitor this issue.