Ukraine’s political scene is facing another chapter in the “Midas” corruption affair. The outlet Ukrainska Pravda has published recordings of conversations involving Tymur Mindich, a businessman and former associate of Volodymyr Zelensky. The recordings are said to come from materials gathered by Ukraine’s National Anti-Corruption Bureau. According to journalists, the conversations were recorded in the summer of 2025 in Mindich’s apartment on Hrushevsky Street in Kyiv, and concern both the assets of people close to power and defence contracts.
The case is especially significant because Mindich is not a random figure. He is a co-owner of the Kvartal 95 production studio, with which Zelensky was associated for many years. In Ukraine’s public debate, Mindich’s name has appeared for months in connection with an investigation into corruption at the state-owned company Energoatom. According to findings by NABU and SAPO, a criminal group allegedly extorted 10–15 percent of contract values from contractors, with illegal financial flows estimated at at least $100 million.
The new recordings, however, broaden the scope of the affair beyond the energy sector. In one conversation, Mindich allegedly speaks with Serhiy Shefir, a former first aide to the president, about finding money for bail for former Deputy Prime Minister Oleksiy Chernyshov, who is suspected of abuse of power and bribery. In another conversation, the construction of luxury residences in the “Dynasty” complex in Kozyn near Kyiv is discussed. According to Ukrainska Pravda, the recordings may indicate that the residences were linked to Mindich, Chernyshov, and people referred to as “Andriy” and “Vova.”
It is these two names that have caused the greatest stir. “Andriy” may — according to interpretations in Ukrainian media — refer to Andriy Yermak, the former head of President Zelensky’s office. Even more attention has been drawn to “Vova,” a diminutive form of the name Volodymyr. Ukrainska Pravda notes that, according to its sources, the references may concern people from the highest circles of power, but the published materials themselves do not yet constitute a legal conclusion. The key issue will be the findings of law enforcement agencies and any future court decisions.
The recordings also concern Rustem Umerov, the former defence minister and current secretary of Ukraine’s National Security and Defence Council. The published materials suggest that Mindich and Umerov discussed Fire Point, a company producing, among other things, long-range systems, as well as purchases of military equipment and possible personnel changes in Ukrainian diplomacy and government. According to Ukrainska Pravda, Mindich complained that Fire Point was receiving too little funding, although he had previously denied links to the company.
Umerov’s press service responded that the authenticity, completeness and meaning of the recordings should be assessed by law enforcement bodies. It also stressed that conversations about weapons, production financing and cooperation with private companies were part of the defence minister’s duties, especially during wartime. At the same time, Umerov’s side challenged some media interpretations, arguing, among other things, that sums attributed to one company in fact concerned broader drone purchases from multiple manufacturers.
The Fire Point issue may nevertheless become a separate political problem. The Public Anti-Corruption Council under Ukraine’s Ministry of Defence stated that materials from anti-corruption agencies allegedly indicate that Mindich may be one of the beneficiaries, or the actual beneficiary, of the company. The council warned that if this is legally confirmed, the company could lose the ability to supply its products to the Armed Forces of Ukraine, because Mindich is on sanctions lists.
The publication of the recordings immediately triggered a political reaction. A temporary investigative commission of the Verkhovna Rada announced that it would summon Serhiy Shefir and Rustem Umerov to a meeting on 13 May. Deputies want explanations regarding both contacts with Mindich and issues related to defence contracts and bail for Chernyshov.
For Ukraine, which is fighting a defensive war against Russia while also seeking Western support, the affair is exceptionally sensitive. Any suspicion of corruption in the energy or defence sectors undermines not only public trust, but also the state’s credibility with international partners. That is why the “Mindich tapes” may prove to be more than just another episode in an investigation — they could become a test for Ukraine’s anti-corruption institutions and for President Zelensky’s own inner circle.
