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The case of bonuses to the former Naftogaz CEO Andriy Kobolyev

  • Date of commencement of the case: 29/11/2023
  • Instance: HACC
  • Stage of criminal proceedings: Judicial proceedings
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The case of bonuses to the former Naftogaz CEO Andriy Kobolyev The case of bonuses to the former Naftogaz CEO Andriy Kobolyev

Case description

The NABU suspects Andriy Kobolyev, the former Naftogaz CEO, of embezzling UAH 261 million in bonuses for winning the Stockholm arbitration against Gazprom.

According to the investigation, Andriy Kobolyev, the former Naftogaz CEO, issued an illegal order in 2018 to award bonuses to employees “for extraordinary achievements,” based on which he received UAH 261 million.

Andriy Kobolyev was appointed as the CEO of NJSC Naftogaz of Ukraine on March 26, 2014. Shortly after his appointment, the company became embroiled in a major legal battle: both Naftogaz and Russia’s Gazprom filed claims with the Arbitration Institute of the Stockholm Chamber of Commerce, accusing each other of violating the terms of their gas contract.

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In May 2017, the court partially upheld Ukraine’s claims, agreeing to revise the contract price for gas deliveries. A month later, according to SAPO, the Naftogaz Board decided to reward certain company employees for their significant success in the arbitration proceedings. Kobolyev himself participated in this meeting. The awarded amount significantly exceeded the maximum permissible bonus limit of UAH 37.48 million. Moreover, for the same achievements, the former head of the company had already received a bonus of UAH 12.49 million in 2017. As a result, Kobolyev allegedly received an additional UAH 230 million beyond what is allowed under current legislation.

The NABU believes that the former Naftogaz CEO violated the Cabinet of Ministers Resolution No. 859, which limits the amount of the annual bonus of the company's CEO to 24 salaries. The amount of UAH 261 million significantly exceeded the level of remuneration for the case won against Russian Gazprom in the Stockholm arbitration, which was the reason for the bonus payment.

According to investigators, it was Andriy Kobolyev who initiated the process of awarding bonuses to himself and his colleagues by preparing amendments to the submission concerning payments for “extraordinary achievements.” The initial document did not specify any amounts, but the revised version included the total bonus figure. It also granted Kobolyev the authority to redistribute his share among employees at his discretion. However, investigators note that this redistribution never took place—he retained the entire bonus for himself. The bonus decision was approved by the Naftogaz Supervisory Board, after which Kobolyev issued the relevant order. The prosecutor alleges that Kobolyev was obligated to inform the Supervisory Board about the bonus limits established by a Cabinet resolution, but failed to do so.

However, after the final decisions of the Stockholm arbitration in late 2017 and early 2018, according to which Gazprom had to pay Naftogaz USD 4.6 billion, the situation began to change. The investigation believes that it was then that Kobolyev decided to pay himself bonuses that exceeded both the amount allowed by the contract and the maximum limit set by the government. The investigation regards these actions as embezzlement of funds of a state-owned company.

But Kobolyev's lawyer, Oleksii Nosov, notes that this resolution in 2018 did not apply to the head of Naftogaz, and the issue of bonuses was exclusively within the competence of the Supervisory Board. He also emphasizes that Kobolyev did not write out the bonus “to himself,” but only fulfilled the decision of the council, signing an order that referred to bonuses for 41 employees — in the amount of 1% of the amount won in the Stockholm arbitration.

Kobolyev's actions were classified under Article 191(5) of the Criminal Code of Ukraine. The former official left Ukraine in February 2022 but returned at the beginning of 2023 and was immediately served with a suspicion notice by law enforcement officers. Andriy Kobolyev said in court that he decided to return to Ukraine after a call from the Embassy in the UK, where he was informed about the inquiry from law enforcement officers regarding his place of residence.

Kobolyev was dismissed from his post in April 2021.

  • Proceeding No.: 42018000000001782
  • Case No.: 991/10459/23 show all cases hide other cases
  • Other court cases No.: 991/377/20, 991/1087/20, 991/2197/20, 991/2196/20, 991/2198/20, 991/3173/20, 991/3339/20, 991/7785/20, 991/4188/21, 991/8485/21, 991/5373/22, 991/6767/22, 991/6819/22, 991/431/23, 991/710/23, 991/1267/23, 991/1083/23, 991/2210/23, 991/2056/23, 991/2452/23, 991/2456/23, 991/2485/23, 991/2957/23, 991/3231/23, 991/3252/23, 991/3451/23, 991/3254/23, 991/4131/23, 991/4670/23, 991/4989/23, 991/5263/23, 991/5572/23, 991/6242/23, 991/5697/23, 991/5616/23, 991/6876/23, 991/8261/23, 991/8517/23, 991/8956/23, 991/8994/23, 991/9509/23, 991/9862/23, 991/10382/23
  • Incriminated: Article 191, part 5, Article 364, part 2
Instance Key parties Instance /Key parties:
HACC
29/11/2023

Panel of judges: Moisak S.M.

Infographics

THE CASE OF ANDRIY KOBOLYEV

Andriy Kobolyev, the former NJSC Naftogaz CEO, allegedly misappropriated UAH 261 million of state money by issuing an illegal order on his bonuses. He faces up to 12 years in prison with confiscation of property.

Article 191(5) of the Criminal Code of Ukraine

  • April 16, 2018
    The Supervisory Board of Naftogaz approved the payment of a bonus to Andriy Kobolyev
  • May 30, 2018
    Andriy Kobolyev issued an order on bonuses for the company's employees, which resulted in almost UAH 261 million in payments to him
  • April 28, 2021
    The Cabinet of Ministers dismissed Kobolyev from the post of CEO of NJSC Naftogaz of Ukraine
  • pic
    January 19, 2023
    The NABU-SAPO served Kobolyev with a suspicion notice
  • January 23, 2023
    The HACC refused to impose an interim measure on Andriy Kobolyev
  • March 1, 2023
    The HACC Appeals Chamber imposed UAH 229 million in bail on Kobolyev, the same amount accrued to him in the form of bonuses
  • November 29, 2023
    The case was referred to the High Anti-Corruption Court for consideration on the merits
  • March 18, 2025
    The HACC returned Kobolyev's passport

Decisions from the Register

Case No. Court Decision date Decision type
991/377/20 HACC 17/01/2020
991/1087/20 HACC 18/02/2020
991/2197/20 HACC 18/03/2020
991/2196/20 HACC 18/03/2020
991/2198/20 HACC 18/03/2020
991/3173/20 HACC 22/04/2020
991/3173/20 HACC 23/04/2020
991/3173/20 HACC 23/04/2020
991/3339/20 HACC 04/05/2020
991/7785/20 HACC 22/09/2020
991/4188/21 HACC 22/06/2021
991/8485/21 HACC 17/12/2021
991/5373/22 HACC 11/11/2022
991/5373/22 HACC 11/11/2022
991/6767/22 HACC 10/01/2023
991/6767/22 HACC 10/01/2023
991/6819/22 HACC 11/01/2023
991/431/23 HACC 19/01/2023
991/431/23 HACC 19/01/2023
991/431/23 HACC AC 26/01/2023
991/710/23 HACC 01/02/2023
991/710/23 HACC AC 07/02/2023
991/1267/23 HACC 16/02/2023
991/1083/23 HACC 16/02/2023
991/1083/23 HACC 16/02/2023
991/1267/23 HACC 16/02/2023
991/431/23 HACC 01/03/2023
991/431/23 HACC AC 01/03/2023 Decision on partial granting of appeals
991/431/23 HACC AC 01/03/2023 Decision on partial granting of appeals
991/431/23 HACC 01/03/2023
991/710/23 HACC AC 02/03/2023 Decision on partial granting of appeals
991/710/23 HACC AC 02/03/2023 Decision on partial granting of appeals
991/710/23 HACC 02/03/2023
991/710/23 HACC 02/03/2023
991/2210/23 HACC 15/03/2023
991/2210/23 HACC 15/03/2023
991/2210/23 HACC 16/03/2023
991/431/23 HACC AC 16/03/2023
991/2210/23 HACC 16/03/2023
991/2056/23 HACC 21/03/2023
991/2056/23 HACC 21/03/2023
991/2452/23 HACC 22/03/2023
991/431/23 CCC 23/03/2023 On the refusal to open cassation proceedings
991/2456/23 HACC 28/03/2023
991/2485/23 HACC 05/04/2023
991/2957/23 HACC 12/04/2023
991/2957/23 HACC 12/04/2023
991/3231/23 HACC 14/04/2023
991/3231/23 HACC 14/04/2023
991/3252/23 HACC 17/04/2023
991/3231/23 HACC AC 17/04/2023
991/3252/23 HACC 17/04/2023
991/3451/23 HACC 27/04/2023
991/3451/23 HACC 27/04/2023
991/3254/23 HACC 27/04/2023
991/3254/23 HACC 27/04/2023
991/3231/23 HACC AC 17/05/2023
991/3231/23 HACC AC 17/05/2023
991/3231/23 CCC 01/06/2023 On the refusal to open cassation proceedings
991/4131/23 HACC 01/06/2023 Decision on temporary access
991/4131/23 HACC 01/06/2023 Decision on temporary access
991/3231/23 HACC 05/06/2023
991/3231/23 HACC 05/06/2023
991/4670/23 HACC 07/06/2023
991/4670/23 HACC 07/06/2023
991/4989/23 HACC 13/06/2023
991/4989/23 HACC 13/06/2023
991/5263/23 HACC 23/06/2023
991/5263/23 HACC 23/06/2023
991/5572/23 HACC 26/06/2023
991/6242/23 HACC 14/07/2023
991/6242/23 HACC 14/07/2023
991/5697/23 HACC 18/07/2023
991/5616/23 HACC 18/07/2023
991/6876/23 HACC 09/08/2023
991/6876/23 HACC 09/08/2023
991/8261/23 HACC 25/09/2023 On changing the interim measure for the accused
991/8261/23 HACC 25/09/2023 On changing the interim measure for the accused
991/8517/23 HACC 06/10/2023
991/8517/23 HACC 06/10/2023
991/8956/23 HACC 13/10/2023
991/8517/23 HACC AC 16/10/2023 On the refusal to open appeal proceedings
991/8994/23 HACC 18/10/2023
991/8994/23 HACC 18/10/2023
991/9509/23 HACC 02/11/2023
991/9509/23 HACC 02/11/2023
991/8517/23 HACC 07/11/2023
991/9862/23 HACC 17/11/2023 On changing the interim measure for the accused
991/9862/23 HACC 17/11/2023 On changing the interim measure for the accused
991/10459/23 HACC 29/11/2023 On the appointment of a preparatory court hearing
991/10382/23 HACC 30/11/2023
991/10459/23 HACC 30/11/2023
991/10459/23 HACC 30/11/2023
991/10459/23 HACC 14/12/2023 On the appointment of a trial
991/10459/23 HACC 14/12/2023
991/10459/23 HACC 14/12/2023
991/10459/23 HACC 14/12/2023 On the appointment of a trial
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 09/01/2024
991/10459/23 HACC 16/01/2024
991/10459/23 HACC 16/01/2024
991/10459/23 HACC 20/02/2024
991/10459/23 HACC 20/02/2024
991/10459/23 HACC 05/03/2024
991/10459/23 HACC 05/03/2024
991/10459/23 HACC 26/03/2024
991/10459/23 HACC 26/03/2024
991/10459/23 HACC 09/04/2024
991/10459/23 HACC 09/04/2024
991/10459/23 HACC 30/04/2024
991/10459/23 HACC 30/04/2024
991/10459/23 HACC 11/06/2024
991/10459/23 HACC 11/06/2024
991/10459/23 HACC 26/07/2024
991/10459/23 HACC 26/07/2024
991/10459/23 HACC 12/09/2024
991/10459/23 HACC 12/09/2024
991/10459/23 HACC 03/12/2024
991/10459/23 HACC 03/12/2024
991/10459/23 HACC 17/12/2024
991/10459/23 HACC AC 20/12/2024 On the refusal to open appeal proceedings
991/10459/23 HACC 23/01/2025
991/10459/23 HACC 23/01/2025
991/10459/23 CCC 03/02/2025
991/10459/23 HACC 11/03/2025 Decision on temporary access
991/10459/23 HACC 11/03/2025
991/10459/23 HACC 11/03/2025 Decision on temporary access
991/10459/23 HACC 11/03/2025
991/10459/23 HACC 18/04/2025
991/10459/23 HACC 18/04/2025

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