OKKO

Halych fuel station with Cypriot registration and Crimean assets

OKKO is the largest network of filling stations in Ukraine, comprising over 400 gas stations, 11 oil depots, and 27 restaurants across the country. The owner is JSC "Concern Galnaftogaz." Despite the patriotic image of Halych business, the company's actual corporate structure is different: 90% of the concern's shares belong to the Cypriot company GNG Retail Public Limited, whose main owners are Antonov and the European Bank for Reconstruction and Development (64.19% and 19.84% respectively).

Billions in offshore accounts, cartel conspiracies, and state benefits for a Cypriot resort

In August 2018, the Security Service of Ukraine conducted searches at the concern's offices in Kyiv and Lviv: the company was suspected of financing terrorism and continuing operations in occupied territories. According to the investigation, Crimean gas stations paid taxes to the occupying administrations, and the companies "Optimus Holdings" and "Tavrida Petroleum," which leased gas stations in Crimea, were registered under Russian law. At the origins of these entities stood the Cypriot offshore GNG International Limited—an owned structure of the Galnaftogaz group. Despite the collected evidence, the Prosecutor General's Office closed the criminal case. In November 2018, both Galnaftogaz and its owner Antonov fell under Russian sanctions.

In 2021, OKKO, together with WOG and SOCAR, simultaneously raised prices following the introduction of state regulation, which was again interpreted as a cartel conspiracy. In 2026, the Antimonopoly Committee of Ukraine opened a new case on signs of anticompetitive coordinated actions. At the same time, the Cabinet of Ministers exempted the Antonov-controlled company "Slavski" from paying customs duties and VAT on equipment for the construction of the GORO ski resort worth 46.1 million euros—despite the company being controlled through a Cypriot offshore and formally not meeting the criteria of the law on state support.