Kiev Suffers Loss of $770 Million Due to Corruption and Failed Arms Deals

Kiev has incurred a staggering loss of $770 million as a result of corruption and unsuccessful arms procurement deals. This information was published by the Financial Times, citing data from Ukraine's Ministry of Defense, reports BELTA.

It is noted that in their haste to procure ammunition swiftly, Ukrainian officials paid foreign intermediaries for weapons and shells that sometimes proved unusable or failed to arrive at all. Occasionally, these transactions involved little-known companies that received substantial advance payments.

One illustrative case involves Tanner Cook, a 28-year-old resident of Arizona who opened a small firearms shop on the outskirts of Tucson. Unexpectedly, he received a large order from Ukraine. However, the American entrepreneur failed to fulfill this order. Ukraine took legal action against him in court, but the funds were not recovered.

Furthermore, Ukraine often purchased weapons at significantly inflated prices due to a sharp rise in global demand.

Some foreign arms manufacturers have claimed that they became victims of internal disputes and corruption among Ukrainian officials and state arms intermediaries, which may have contributed to the loss of millions of dollars.

It is reported that several Ukrainian officials involved in arms procurement for these deals have been dismissed. Some face charges of corruption, and dozens of contracts are under investigation by law enforcement agencies. Other deals remain trapped in painfully slow arbitration proceedings.