€14 million earned through gas exports and multimillion-euro real estate: how the family of former minister Zlochevskyi lives

In early October this year, the government allowed private companies to export domestically produced gas. The company that benefited the most from this decision was owned by former Ecology Minister Mykola Zlochevskyi. According to analysts’ estimates, in October alone, the controversial former official’s company may have earned nearly €14 million.

Most of the licenses and permits held by companies linked to Zlochevskyi were obtained back when he was a member of the government under former President Viktor Yanukovych, who later fled the country. Numerous investigations have been conducted into the legality of the mining rights acquired by Zlochevskyi’s companies. Nevertheless, he still holds approximately 30 permits to this day. And, without exaggeration, they generate tens of millions for him.

This is reported by Antikor.

Zlochevskyi is known as the founder of the Burisma group of companies, whose board of directors included Hunter Biden, the son of a former US president, and former Polish President Aleksander Kwaśniewski. In 2023, the group was dissolved, and its assets were distributed among other companies, which are now officially headed by Zlochevskyi’s daughters, Anna and Karina, both holders of Cypriot passports.

One of the Zlochevskyi family’s main companies is Esko-Pivnich LLC. In October 2026, it became the leading exporter of Ukrainian gas abroad, surpassing even such an industry giant as DTEK. The company currently holds seven valid oil and gas production licenses.

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Another seven permits are held by affiliated companies linked to Zlochevskyi’s business network — PARI LLC and PARI Naftogaz LLC. In 2025, the former reported a substantial 63% increase in revenue. Most of the permits and licenses remain valid until 2031–2038.

PARI Naftogaz LLC was established in 2021 and was initially registered under Diloretio Holdings Ltd, Zlochevskyi’s main Cypriot offshore company. The latter’s board of directors includes Karina Zlochevskyi and Aleksander Kwaśniewski.

Later, the Cypriot companies Omniserve Ltd and Omnium Corporate & Trustee Services Limited became shareholders in PARI Naftogaz. At one point, these companies were also among the founders of Ivena Limited, which is linked to the business interests of another Ukrainian oil and gas tycoon, Zinoviy Kozytskyi.

PARI Naftogaz LLC is now registered under the Cypriot company Semyhen Holdings Limited, whose name bears a resemblance to the Semyhenivske gas field, for which the Zlochevskyi family holds a development license. The company’s ultimate beneficial owners are the former minister’s daughters.

Meanwhile, the Zlochevskyi family has begun moving two other companies, which also hold several licenses to extract mineral resources in Ukraine, to the UAE. It is worth recalling that the former minister’s daughters own apartments in Dubai worth up to $11 million. Antikor previously published exclusive footage of the building on the artificial island of Palm Jumeirah, where the Zlochevskyi family enjoys a luxurious lifestyle.

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On June 20, 2024, Mig Capital Investments became a shareholder in O-Gaz, a company that had acquired two extraction permits in 2023. The investment firm is registered at the Opus, one of the most prominent buildings in Dubai’s business district. The building was designed by renowned architect Zaha Hadid

The following day, UAE citizen Mohamed Al Zeyoudi became part of O-Gaz’s corporate structure. A person with the same name has been working as a Strategy Manager at ADNOC, the UAE’s leading oil and gas company, since January 2026. Prior to that, he worked at the investment banking firm Moelis & Company.

However, Mohamed Al Zeyoudi is a very common name in the UAE, so it is impossible to say with 100% certainty that this is the same person.

A month later, Smartline Energy F.Z.E., based in a free economic zone in Ajman, the emirate neighboring Dubai, joined O-Gaz’s ownership structure.

In the summer of 2025, another UAE-based company, Emiravest Energy Group, became part of the Zlochevskyi family’s Ukrainian business. It is managed by Arkadii Zavora, a former employee of Zlochevskyi’s Infоx company. The UAE-based firm specializes in attracting investment in energy infrastructure, including renewable energy projects such as wind farms and solar power installations.

The company’s official website in Dubai provides only general information about its business activities, without offering any specific details. Its "News" section features just three articles, all published on the same day and most likely generated using artificial intelligence.

In 2026, the same entities — Mig Capital Investments, Emiravest Energy Group, and UAE citizen Mohamed Al Zeyoudi — became involved in the management of another Zlochevskyi-owned company, Storens LLC. Storens holds four special permits for the use of Ukraine’s mineral resources.

Since 2011, Arkadii Zavora had been listed among the founders of Azov-Oil Company LLC, which is now registered at Zlochevskyi’s main office in Kyiv. It was in 2011 that the former minister began actively expanding into the extractive industry and obtaining development permits for mineral deposits on a large scale.

In addition to their oil and gas extraction business, the Zlochevskyi family is actively investing in the real estate market. Their acquisitions of an unfinished building near Kyiv’s Civil Registry Office, the former Arkada Bank building, and the Food Market at Arsenalna metro station had already been reported. However, further assets linked to the family have now been uncovered.

Zlochevskyi’s daughters, together with the family foundation Rodolit, own Zlatograd-Invest LLC. The company was established back in 2012, when its founders were the former minister’s wife and father, Nataliia and Vladyslav Zlochevskyi. Its primary business activity is the construction of residential and non-residential buildings.

In 2013, the company acquired several plots of land in the village of Shpytky, Kyiv region. The plots are located on the shore of a lake.

Today, a gated residential development known as Tereshchenski Lakes (Tereshchenski Ozera) stands on the site. It features a secure, enclosed area, direct access to the lake, private beaches, and luxury cottages and duplexes.

It appears that all the properties have already been sold on the primary market. However, responses from the sales department preserved on social media provide an indication of the original prices: cottages were priced at $95,000.

A few weeks ago, a listing appeared online offering one of the houses in the Tereshchenski Lakes development for sale. According to the description, it is one half of a duplex, measuring 106 square meters, with unfinished renovation work. The asking price is $120,500.

Zlatograd-Invest is identified as the developer of the project, although real estate websites conceal information about the developer behind the Tereshchenski Lakes residential complex.

In 2025, a new attraction appeared within the development: a standalone house built on an island in the middle of one of the lakes in the village of Shpytky. It is available for private rental, offering guests an exclusive retreat. In addition to the house itself, the property features a barbecue area and a large outdoor hot tub.

Following the initial sale of the houses, ownership of some of the land plots changed hands. However, according to registry records, Zlatograd-Invest LLC still owns 36 land plots.

Near the village of Khotianivka, effectively on the dam of the Kyiv Reservoir, lies the Zlochevskyi family’s ancestral estate. Journalists have previously reported on the property, which features two enormous, mirror-image mansions.

Since 2014, the land beneath the mansions has been registered to Velyki Kliuchi LLC, which was once managed by the former minister’s father, Vladyslav Zlochevskyi.

Until the summer of 2023, the Cypriot company Proteas Trustee Services Ltd was a co-founder of Velyki Kliuchi LLC.

In 2024, the company was added to the sanctions list of Ukraine’s National Security and Defense Council (NSDC). The sanctions targeted companies supporting Russia’s military production, as well as traitors and entities linked to Russia’s military-industrial complex.

The Zlochevskyi family’s ancestral estate also underwent certain changes in 2023. Seven hectares of forest separating their land plots from the dam were transferred to the use of the state-owned enterprise Forests of Ukraine (SE Lisу Ukrainy). Previously, the land had been owned by the Kyiv Regional State Administration.

Satellite imagery clearly shows that a third house has appeared on this land. Its architectural style is very similar to that of the mansions belonging to the Zlochevskyi family, although it is smaller than the two existing properties.

In other words, an unidentified estate has appeared on land belonging to a state-owned enterprise, even though such land may be used exclusively for activities related to forestry.

In early October this year, news broke that Mykola Zlochevskyi had put his yacht, currently named Rhino, up for sale. In fact, the yacht, under its previous name, was first listed for sale back in 2020, but the deal fell through at the time.

Since then, the yacht has undergone two name changes, first from Karianna to Lady Michelle, and later to Rhino. It has also undergone a major refit. Photographs clearly show that the vessel’s original design featured predominantly brown tones, whereas its interior is now dominated by lighter shades.

Left: Karianna interior; right: Rhino interior.

In August 2023, the High Anti-Corruption Court approved a plea agreement with Mykola Zlochevskyi in the case involving an attempted bribery of the leadership of the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO). He had been suspected of attempting to pay a $5 million bribe in exchange for closing a criminal case. Under the terms of the agreement, Zlochevskyi donated nearly UAH 800 million to support the Ukrainian Armed Forces.

It was in 2023, when he effectively bought his way out of criminal prosecution, that Zlochevskyi shut down the Burisma group, transferred extraction permits to other companies through a series of corporate restructuring arrangements, and became one of the most active players in Ukraine’s oil and gas market.

An oil and gas empire, large-scale real estate acquisitions, the construction of a luxury residential development and, quite possibly, retained political influence. All of this points to the emergence of a new oligarch — someone Mykola Zlochevskyi might never have become had the numerous criminal cases against him been brought to trial and resulted in convictions.

Yet it appears that one can acquire access to Ukraine’s natural resources through questionable legal arrangements, allegedly offer one of the largest bribes in the country’s history, and still walk away unscathed — continuing to live in luxury in Dubai and Larnaca while making enormous profits in Ukraine.