The dispute over the rights to 305 million cubic gas known as ‘Zhevago gas’ ended up after Naftogaz then led by Kobolev agreed to return the gas to the company affiliated with Ukrainian businessman Kostyantyn Zhevago.

The situation is ‘a bit disgusting’, said Kobolev in his statement on Facebook, arguing such criminal investigations are part of ‘intimidation’ and public ‘smear campaign’ against him.

He doubled down on his claims the settlement agreement with Zhevago companies was a right move that helped to get back of over 200 million hryvnas of the funds write-off

The businessman often referred to as an ‘oligarch’ took Naftogaz to court in early 2000 after the state energy company’s subsidiary Ukrtransgaz allegedly snatched the gas supplies secured by his companies. The litigation dragged on for years with Naftogaz refusing to pay 2.3 billion hryvnas’ damage.