Companies linked to sanctioned individuals have been added to the White Business Club by the Tax Service

7,997 companies have joined the White Business Club. These are businesses that are required to demonstrate transparency, pay taxes diligently, submit reports, and not have connections to Russia.

However, at the beginning of the full-scale invasion, 24 companies in the club had Russian owners. Currently, none of these businesses officially have any Russian ties. It is important to note that since the start of the full-scale war, Ukraine has implemented a moratorium on changing the registration details of companies with Russian owners), except for a few cases clearly defined by law. OpenDataBot has submitted a request to the Ministry of Justice of Ukraine to check the registration changes in such businesses.

OpenDataBot analyzed companies that were included in the trusted list of the State Tax Service (DPS) and found some connections to individuals under sanctions through shared business ventures.

For example, two companies belong to the Kozak brothers’ group, whose owners are linked to Viktor Medvedchuk’s group. There are also businesses on the list connected to the Alef Corporation, owned by the sanctioned Vadim Yermolaev, and Burisma Group, whose owner is listed in the Corruption Register, among others.

After the list was published, sanctions were imposed on Yuriy Boyko, and two companies from his group are also among the “white businesses.”

42% of companies in the White Business Club earn between 10 and 100 million hryvnias per year — that’s 3,300 businesses. Additionally, 177 companies boast an income of over 1 billion hryvnias (2.2%). However, 208 members of the club did not submit reports to the State Statistics Service for 2023, so their financial performance cannot be assessed at this time.

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Income of companies in the White Business Club

Up to 10 million hryvnias	2,987	37.4%
From 10 million to 100 million hryvnias	3,354	41.9%
From 100 million to 1 billion hryvnias	1,271	15.9%
From 1 billion hryvnias	177	2.2%
Did not submit financial reports	208	2.6%

Nearly a quarter of white business representatives are concentrated in the capital — 1,927 companies. Another 10% or 794 companies are registered in the Dnipropetrovsk region. The top three are closed by the Kyiv region — 594 companies or 7%.

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16% or 1,275 companies from the white list operate in wholesale trade. The second place is occupied by agriculture — 1,120 businesses (14%). Real estate is handled by 675 companies (8.4%), and property and territory maintenance by 359 companies (4.5%). The medical sector closes the top five — 312 companies (3.9%).

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Sectors of companies from the White Business Club

Wholesale trade	1,275	15.9%
Agriculture	1,120	14.0%
Real estate	675	8.4%
Property and territory maintenance	359	4.5%
Healthcare	312	3.9%
Construction	266	3.3%
Retail trade	265	3.3%
Specialized construction works	249	3.1%
Law and accounting	202	2.5%
Other	3,274	40.9%