Ukraine’s Former President Yanukovych Deposited Billions of USD with China

Viktor Yanukovych, Xi Jinping.

According to two independent JPR sources, Ukrainian President Viktor Yanukovych, left, deposited billions of dollars before and during his departure from Ukraine in the spring of 2014.

Journal of Political Risk, Vol. 3, No. 2, February 2015.

By Anders Corr, Ph.D

Former President of Ukraine Viktor Yanukovych has deposited billions of dollars with the Chinese, according to two independent sources available to the Journal of Political Risk.

President Yanukovych deposited approximately $1 billion USD with China on either his first or second visit to that country, according to one of the sources. Two large pallets of cash, of approximately $1 billion USD, were delivered to China through Hong Kong.

The other source, which we accessed in April 2014 on a visit to Ukraine, said that President Yanukovych transferred most of his deposits to China prior to departing the country and closing the banks with which he was associated. His bankers fled the country at that time.

When President Yanukovych fled Ukraine for Russia in February 2014, he transferred billions of dollars in a hurry. He and his family closed their four banks, according to our source. President Yanukovych’s men stuffed several vehicles full of cash, and drove them to Russia. What is reported here for the first time is that most of his estimated $32 billion in assets were wired to China, according to our source.

Former President Yanukovych denies having foreign bank accounts.

Update (3/7/2015): An email request for comment to the People’s Bank of China was not returned. The JPR was unable to reach Viktor Yanukovych for comment, though he is thought to reside in Rostov-on-Don, Russia

Anders Corr, Ph.D. is the founder and principal of Corr Analytics. JPR Status: Report, archived 2/28/2015. 

Russian Military Force Structure in Ukraine Area

Russian Military in Ukraine Region

This official document obtained by Corr Analytics reveals the force structure of Russian military personnel and equipment in and around Ukraine, including in Russia, Ukraine, and Transniestria.

Journal of Political Risk, Vol. 3, No. 2, February 2015.

By Anders Corr, Ph.D

Corr Analytics received official documents yesterday that reveal the force structure of Russian military personnel and equipment in and around Ukraine, including in Russia, Ukraine, and Transniestria. The key document is republished here, and details 63,200 personnel, 755 tanks, 2,610 armored vehicles, 305 multiple launch rocket systems, 955 artillery systems, 355 combat aircraft and helicopters, 30 combat ships, and 2 submarines.

The released document shows the locations of forces, including in the Donbas region of Eastern Ukraine, Crimea, Russia near the Ukrainian border, and Transdniestria.  Of particular interest are Russian-flagged forces shown to be in the Donbas region, including 13,000 personnel, 290 tanks, 765 armored vehicles, 125 multiple-launch rocket systems, and 210 artillery systems.

The army arrayed against the Ukrainian military is clearly a powerful Russian force that surrounds the country. Yet, Ukrainian officials yesterday were optimistic about a Ukrainian win against Russia. Russian foreign reserves are running low and being burned at a remarkably high rate. The United States, United Kingdom, and Canada have finally broken with France and Germany, and put military advisors in Ukraine. Ukraine expects to receive Javelin anti-tank missiles, sophisticated artillery equipment, and other military assistance in the near future.

Ukraine will accept conditions imposed by the IMF for a $17.5B loan in the coming days. This will cause social unrest in Ukraine, according to officials. Ukrainian citizens are expected to denounce such conditionality when the country is at war. Russian intelligence will likely take advantage of such unrest, according to the officials. However, Ukraine will accept the conditions in order to maintain unity with its allies and to obtain the much-needed loan.

Anders Corr, Ph.D. is the founder and principal of Corr Analytics. JPR Status: Report, archived 2/28/2015.