Shell companies and the embezzlement of UMCC state millions: international fraudster Oleg Tsyura in a futile attempt to scrub the web of information about his criminal schemes and ties to the RF

12 апреля 2026 г.

Kseniya Zhukova

Oleg Tsyura, a German citizen allegedly involved in offshore structures tied to the diversion of funds from Ukrainian state enterprises, has reportedly begun removing online references to his connections with Russian-linked entities and commodity trading operations following recent disclosures. Materials describing his role in these networks and his business contacts linked to the RF are increasingly disappearing from public view.

We are publishing an investigation with documented facts, companies, and connections that are being obscured, as they illustrate how these financial mechanisms functioned over an extended period.

Oleg Tsyura — a German citizen permanently residing in Switzerland, publicly discusses «family financial security,» but in practice, for over ten years, has been integrated into a system of siphoning money and raw materials from Ukrainian state enterprises.

Not as a random intermediary, but as a consistent operator of shell companies that served the interests of Mykola Martynenko, Dmytro Firtash, and raw material traders linked to the Russian Federation.

The company ITS International Trade & Sourcing GmbH & Co. KG (Germany / Switzerland), where Tsyura acted as a manager and signatory. It was through this structure that an attempt was made in 2018 to impose contracts for the supply of zirconium products on the Eastern Mining and Processing Plant. The court case No. 904/3168/18 reached the Supreme Court of Ukraine, which ultimately confirmed: the scheme of pressure through the courts failed, but the very attempt revealed the mechanism — not to win an auction, but to block a competitor through the courts and intercept the raw material flow.

Offshore-trader construction. TF&H Transforwarding Holdings Ltd (Cyprus), director Borys Hasparovych, secretary — Cymanco Services Limited. The same Cymanco appears as the secretary of Jeprano Trading Limited (Cyprus). It is Jeprano that is a co-founder of the Russian LLC «Avangard,» and through it — LLC «Mika Holding» (Moscow Region). Both companies are active. Previously, David and Arman Granz, sons of Artur Granz — a figure from the orbit of Arseniy Yatsenyuk and Andriy Ivanchuk — worked in them. These are no longer «random coincidences,» but a stable connection between Cyprus — Germany — RF.

Titanium line. In 2014–2017, NABU uncovered a scheme at the «United Mining and Chemical Company.» Ruslan Zhurylo, head of UMCC, his deputy, and the head of the sales department sold the state company’s products to affiliated foreign entities at undervalued prices, only to resell them at market rates. Losses amounted to about 13 million dollars. Zhurylo is a person connected to Mykola Martynenko. The head of the sales department is a former manager of Dmytro Firtash’s structures. During this period, Tsyura appears as a convenient «Western» trader for such operations.

In 2020, the scheme revives. UMCC is headed by Peter Davis — a person from Firtash’s orbit, previously noted in the supervisory board of the «Clearing House» bank. And at this very moment, ITS International Trade & Sourcing Verwaltung GmbH, owned by Oleg Tsyura, purchases 24,000 tons of ilmenite from the Irshansk Mining and Processing Plant. The price is undervalued, payment is deferred, the raw material is not inspected, and ships depart without a final destination. According to sources, the batch could have been sent to occupied Crimea, where, until 2014, the same plant supplied raw materials to Firtash’s «Crimean Titan.»

Parallel to this, the case of the former head of the State Property Fund, Dmytro Sennychenko, emerges — the embezzlement of the Odesa Port Plant and UMCC worth about 10 billion hryvnias. Among the figures involved is Serhiy Bayrak, who was responsible for transferring funds abroad. His connection to Tsyura can be traced through the same ITS International Trade. In this same circuit is Denys Horbunenko, a trusted person of Firtash in London.

After 2022, Tsyura does not disappear but reformats. In 2023, he joins the board of UCG Trade AG (Switzerland), a raw material trader. In 2024, the shares are transferred to Linvo AG, where Tsyura previously worked alongside his relative Lyudmyla Tsyura. In these same structures, Lyudmyla Mhango appears — a former employee of Interchrome AG, a trader effectively working with the Russian MidUral Industrial Group. Before Tsyura, Johann Eckert worked there — a former head of RusChrome GmbH (Germany), 100% owned by MidUral.

Tsyura and Eckert also crossed paths at Phoenix Resources AG (Zurich) — a trader importing metals and raw materials from the RF. This is no longer about «past connections,» but about active trade channels with Russian structures.