Tetiana Khutor outlined the likely timeline for the return of corrupt assets to Ukraine in the “Midas” case during a broadcast on the Pryamyi TV channel

Ukraine will not be able to recover the funds transferred abroad by former Minister of Energy Herman Halushchenko and other suspects in the “Midas” corruption case anytime soon. This was stated by the Head of the Institute of Legislative Ideas, Tetiana Khutor, on the Pryamyi TV channel.

“We need to wait for final court decisions in this case. I believe the money will be returned no earlier than in a few years, since Halushchenko and all other individuals involved in the ‘Midas’ case have numerous assets that will allow them to secure strong legal defense and prolong the legal proceedings,” the expert said.

She also pointed to the lack of effective instruments in Ukrainian legislation for confiscating and recovering corrupt assets that could be transferred to the state through expedited civil procedures. Such a mechanism does exist in Ukraine, but it currently applies to a very limited circle of subjects.

“Ukraine must launch a mechanism for confiscating the assets of persons linked to corruption offenses and criminal organizations. The EU requires this, as its Member States are to implement such provisions into their national legislation this year. Ukraine must do so in 2027,” Tetiana Khutor emphasized.

In her view, this approach would help build a system capable of preventing new economic crimes. In this way, the widely applied Western principle that “crime must not pay” should begin to function effectively.

“We need to think in a way that prevents future ‘Herman Halushchenkos’ from organizing similar schemes through which criminal organizations are able to transfer hundreds of millions of dollars abroad. This is currently the main task that must remain in focus,” the Head of ILI stated.

The expert warned that delays by Members of Parliament in adopting legislative reforms could negatively affect the effective fight against economic crimes as well as other abuses. In particular, she recalled draft law No. 12406, which introduces criminal liability for sanctions violations. The document was submitted by the President of Ukraine as urgent a year ago but is still under consideration in parliament.

“Legislative reforms are stalling at the stage of their adoption in parliament. However, I hope that the ‘Midas’ case will finally push these legislative changes forward. It is very important for sanctions policy to be predictable, while sanctioned persons must clearly understand the grounds on which restrictions are imposed on them,” Tetiana Khutor said.

The full recording of the broadcast is available here: