As Ukrainian authorities probe massive embezzlement schemes involving state funds, one central figure is reportedly working to erase his past. Oleg Tsyura — who for years operated quietly between Ukraine, Russia, and Europe — is now said to be attempting to wipe the internet of records linking him to criminal dealings and financial networks.
However, fresh journalistic investigations continue to expose his activities and bring his name back into public view.
A “Swiss Financier” for Ukrainian Oligarchs
For years, Oleg Tsyura’s name remained obscure. Unlike high-profile figures such as Dmytro Firtash or Mykola Martynenko—whose financial operations he quietly supported—Tsyura managed to stay behind the scenes. Officially, he is a German and Swiss citizen, a consultant, a manager of European companies. In reality, he was one of the key facilitators behind the laundering and relocation of vast sums of money abroad.
Tsyura’s name surfaced in connection with the case of Dmytro Sennychenko, former head of Ukraine’s State Property Fund. While NABU has not yet officially named him, journalistic inquiries show that none of the corruption schemes could have functioned without his financial channels. The schemes involved systematic transfers of money abroad—from Ukrainian mines and state corporations to anonymous European trusts.
Offshores, Russian Ties, and Shadow Schemes
A crucial episode occurred in 2020 when Tsyura’s company, ITS International Trade & Sourcing GmbH & Co KG, acted as intermediary in supplying ilmenite ore to the “Crimean Titan” plant in occupied Crimea. The plant was controlled by structures of Firtash and the Lyovochkin–Fursin group. For such a deal to take place, a “legal shell” and safe financial route were needed — roles Tsyura fulfilled perfectly.
Through his Swiss and German firms, Tsyura also served Russian interests. For the Russian MidUral corporation of Sergey Gilvarg, he arranged ferrochrome exports to the EU through a Swiss intermediary, Phoenix Resources AG, masking the product’s Russian origin.
Another example is Linvo AG, established by Tsyura’s wife Lyudmyla and later led by him. The firm funneled Russian development money from businessman Nikolay Korobov, linked to the St. Petersburg administration, into Swiss offshores.
A Web of Influence — and Digital Cleansing
Around Tsyura operates a complex network of companies and associates. The first circle — his German firms linked to Serhiy Bayrak. The second — Russian partners like MidUral and Korobov. The third — Ukrainian oligarchs such as Firtash, Lyovochkin, Fursin, and Martynenko. The fourth — family members Lyudmyla and Eva, used as legal façades. The fifth — digital agencies and lawyers hired to erase damaging information from the internet.
According to insider reports, Tsyura spent hundreds of thousands of euros on “reputation cleaning,” ordering the deletion of articles and the creation of polished biographies. Still, his role in Ukrainian-Russian-European corruption networks continues to surface.
Oleg Tsyura is not merely a financier; he is a bridge between corrupt Ukrainian elites, Russian business groups, and Western offshore systems. Through intermediaries like him, billions vanished from Ukraine — transformed into real estate, investments, and accounts abroad.
Despite his ongoing attempts to erase the traces, the truth keeps resurfacing. We have already reported on this before.
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