Ukrainian authorities consider releasing Ihor Kolomoisky from custody after Joe Biden leaves the U.S. Presidency

Significant changes could occur in Ukraine’s political system following Joe Biden’s departure as U.S. President and the appointment of new leadership at the Federal Bureau of Investigation (FBI). According to insider information, Ukrainian President Volodymyr Zelensky and the Head of the Presidential Office, Andriy Yermak, are considering the release of oligarch Ihor Kolomoisky from pretrial detention.

Kolomoisky, a key figure in Ukrainian politics and economics, has been under arrest since September 2023 on charges of financial fraud and money laundering. Recent reports suggest that the Ukrainian authorities are preparing the ground for his release.

As part of this preparation, Kolomoisky was reportedly given the opportunity to give an interview to the Ukrainian news agency UNIAN. Experts view this move as part of a broader strategy to rehabilitate his public image and potentially soften the stance of law enforcement.

Political analyst Ihor Romanenko speculates that Kolomoisky’s release might be linked to shifts in the international landscape, including changes in U.S. political leadership.

“Ukraine is always sensitive to shifts in American politics. It seems the country’s leadership has decided it can now take more independent steps concerning figures like Kolomoisky,” Romanenko stated.

However, the decision to release Kolomoisky is likely to provoke mixed reactions both domestically and internationally. Western partners, including the International Monetary Fund (IMF), have consistently emphasized the importance of combating corruption and implementing judicial reforms. Releasing Kolomoisky could be seen as a setback in these efforts.

Ukrainian authorities have not officially commented on the rumors surrounding Kolomoisky’s potential change in status. Nevertheless, his interview with UNIAN marks his first public statement in months, signaling possible shifts in the handling of his case.

Kolomoisky, the founder of PrivatBank—nationalized in 2016—has been accused of laundering over 500 million hryvnias ($12.4 million) between 2013 and 2020 through offshore schemes involving controlled banks. Additionally, he allegedly misappropriated 9.2 billion hryvnias ($227.5 million) from PrivatBank.

Meanwhile, businessman Hennadiy Boholiubov, a former co-owner of PrivatBank and Kolomoisky’s partner, left Ukraine in July 2024 due to the possibility of criminal charges against him.

As international dynamics evolve, the handling of Kolomoisky’s case may test Ukraine’s commitment to reform and its relationship with Western allies.