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Automatically translated version. May contain inaccuracies compared to the original.
Partner under sanctions, Rostec and Crimean “doubles”: the Russian connections of businessman Dementiienko
Oleksandr Dementiienko was once listed among the wealthiest people in Dnipro, and now appears in court cases over a billion-dollar debt and business in occupied Crimea. His business ties repeatedly lead to Russia: to a partner under RNB sanctions, investments in Russian industry, taxes to the Russian budget and, according to media and the investigation, to the state corporation Rostec.
The key figure in this story is Russian citizen Mykhailo Myronovych Shchegolevskyi. He has long been a joint partner of Dementiienko and Viktor Pinchuk since the Interpipe days, where Dementiienko worked with 1991 year.
When in 2004 the partners decided to part ways, Dementiienko, according to My UA, joined forces specifically with Shchegolevskyi. Together they claimed assets worth 750 million dollars. After the intervention of Kostyantyn Hryhoryshyn with the Privat group in 2005, the businessmen received about 100 million dollars, two electric grid enterprises, a stake in the Mohyliv Metallurgical Plant and several smaller companies. Altogether this is about 300 million dollars.
After the “split” with Pinchuk, Dementiienko together with Shchegolevskyi controlled Assets Management Group, writes Henshtab. And in 2016 the owner of the Mykolaiv plant Fregat, which later passed to the Dementiienko family, was Shchegolevskyi.
Since 2025 Shchegolevskyi has been under RNB sanctions for actions that threaten Ukraine's national interests.
Titanium and oil
According to My UA, Dementiienko invested in the construction of a plant producing titanium rod in Russia. He also owned one-fifth of the shares of the Russian oil producing company Chedtiy Neft.
A trail is visible in trade as well. According to YouControl, the Fregat plant had foreign economic operations with Russia since 1999, including in 2016 and 2018, already after the annexation of Crimea.
Crimean “doubles” and taxes to the Russian budget
After 2014 this trail becomes direct. According to court materials, Dniprometalservicegroup LLC failed to return more than 36,7 million euros of a loan to Delta Bank. This company was reregistered under Russian law as OOO Dnepr Metall Service Grupp. The same was done with the collateral provider for the loan, Metal Service Grupa LLC: it became OOO Metall Service Gruppa with the same beneficiaries. Over 2019–2021 years this company paid 8,6 million rubles in taxes to the Russian budget.
Another ruling states that Ukrainian citizens, according to the investigation, acting to the detriment of the state's sovereignty and defense capability, registered these companies in occupied Crimea. According to the investigation, they ensure their operation and the payment of taxes to the occupation authorities.
Rostec and Chemezov
According to 368 media, the company cooperates with the state corporation Rostec, directly with its head Sergei Chemezov, in the construction of military boats for the Russian army. Between Dementiienko and Chemezov, the outlet says, there is a chain of intermediary companies.
This claim is also in a court decision. It notes that Dniprometalservicegroup has financial and economic relations with the Rostec group regarding the construction of military boats for the needs of the Russian armed forces. According to the prosecution, this could be financing an aggressive war against Ukraine (part 1 of article 110-2 of the Criminal Code).
The senator and Aksyonov's circle
On the eve of the full-scale invasion, part of the Crimean business was re-registered to Russian owners. However, according to pre-trial investigation materials, the enterprises continued to operate on the peninsula.
According to 368 media, the curator of the legalization of Crimean assets was Russian senator Volodymyr Kozhin. The fictitious purchase-sale agreement, the outlet reports, was executed through Russian securities with people from the circle of the occupation head of Crimea, Serhii Aksyonov. These claims are so far cited by only one media outlet: in the court documents referenced by the editorial office, these names do not appear.
What happens next
The State Bureau of Investigations is currently investigating criminal proceeding No. 22022101110000748 under articles on treason, abuse of power and financing actions aimed at changing Ukraine's territorial boundaries. The suspects have not been officially named. The Pechersk court ruling mentions:
companies reregistered under Russian law;
taxes to the Russian budget;
contracts with Russian ship repair enterprises;
assets connected to the same beneficiaries.
Separately, the Commercial Court of Kyiv on 20 December 2024 ordered the recovery of 2 691 251 669,39 UAH from two anonymized persons for the debts of Dniprometalservicegroup. According to journalists, one of them is Oleksandr Dementiienko.
From the joint division of Interpipe to, according to the investigation, operating in the occupied territory and military contracts: a court will give the final assessment of this path. The editorial office will follow developments.
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