The Austrian authorities have opened an investigation into Kirill Shevchenko, the former head of the National Bank of Ukraine, on suspicion of money laundering, according to reports cited by RIA News from AFP.
In January 2023 local Ukrainian media reported that Shevchenko had sought asylum with Austrian authorities, citing political persecution in Ukraine. Austrian authorities have not yet issued a confirmation or formal decision on the asylum request, keeping the matter under review.
Shevchenko resigned in October 2022 due to health reasons and was later placed on an international wanted list. He was also tried in absentia on allegations of embezzlement at Ukrgasbank. Investigators allege that from 2014 to 2019 the management of Ukrgasbank approved 52 fictitious agreements with intermediaries described as agents who enticed large clients to the bank. The scheme allegedly involved transferring more than 206 million hryvnias, which is over 5.5 million United States dollars, in exchange for these services.
Among the five main suspects in the case was a former central bank chairman who served as the head of Ukrgasbank’s board at the time the alleged offenses occurred. The accused has rejected the charges, calling them politically motivated and rushed, claiming they were built without solid evidence and without a fair trial. He has also been accused of forming a criminal organization.
Media observers have suggested that there were tensions between the Ukrainian presidential office and the central bank agenda over inflation and currency devaluation. A banking insider indicated that the presidential office was interested in measures that could increase hryvnia printing to bolster the state budget, a point that some said created friction with the central bank and prompted differing views on policy steps. The discussions reportedly began in a less formal setting but escalated into open disagreement.
Meanwhile, Ukraine’s international reserves were noted to have experienced fluctuations, with a report indicating a net decrease followed by a January increase of about 2 billion dollars in reserves, highlighting ongoing volatility in the country’s balance of payments and currency stability.
According to sources familiar with the situation, the investigation into Shevchenko is part of broader efforts to address financial misconduct and to reassess governance within major Ukrainian financial institutions. The complexity of the case lies in the intersection between financial crime allegations, regulatory oversight, and political dynamics within the Ukrainian economy and its international relations. Observers emphasize the importance of transparent judicial proceedings and the consistent application of due process for all parties involved. Attribution: AFP via RIA News.