Disinfo: Poroshenko and the IMF destroyed the Ukrainian banking system


[…] for five years, Poroshenko, Gontareva [the former head of the National Bank of Ukraine], and some IMF representatives have robbed the banking system of Ukraine and plundered the country’s assets. In particular, the National Bank has been destroying banks and the Deposit Guarantee Fund has been selling banks’ assets.


Conspiracy theory. Pro-Kremlin disinformation narrative that undermines the banking sector reform in Ukraine and, in particular, the adoption of the anti-oligarch banking law on May 13.

The anti-oligarch banking law, officially titled "Draft Law on Amendments to Certain Legislative Acts of Ukraine Concerning the Improvement of Certain Mechanisms for Banking Regulation", is designed to prevent the return of nationalised or liquidated banks to their owners. Over 100 commercial banks have been closed since the banking reform started in 2014.

In 2014, many banks were non-transparent: they did not disclose their real owners, their reports did not reflect the real state of affairs. Even the audit reports did not guarantee an objective assessment. 103 banks were liquidated, their assets sold to return the deposits to individuals.

As a result of the reform, the monetary system has improved in many ways. For instance, the banks are more stable now, they have enough reserves. The banking system has become more transparent.

According to the World Bank, the banking sector reform in Ukraine was successful, its rollback could destabilise the banking system again.




  • Reported in: Issue 197
  • DATE OF PUBLICATION: 14/05/2020
  • Language/target audience: Russian
  • Country: Ukraine
  • Keywords: Conspiracy theory, Ukraine, economy, IMF, Conspiracy


Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

see more

The Association Agreement destroyed Ukrainian economy, it became a Western colony

Almost six years have passed [since the Association Agreement was signed between Ukraine and the EU]. What did this widely advertised agreement give to Ukraine? Judge for yourself. Ukraine has become the poorest country in Europe and one of the poorest in the world. The Ukrainian economy was destroyed. Investments fell to zero. This means that the country has essentially become a colony of the West and has lost its independence.


Conspiracy theory. Recurring pro-Kremlin narrative on Ukraine and its relations with the European Union.

In June 2014, the EU and Ukraine signed an Association Agreement, including a Deep and Comprehensive Free Trade Area (DCFTA), which promotes deeper political ties, stronger economic links and the respect for common values. Since 2014, the EU and the Financial Institutions have mobilised more than €15 billion in grants and loans to support the reform process, with strong conditionality on continued progress. See here for more details about EU-Ukraine relations.

Euromaidan was initiated to lower Ukraine’s living standards

Now everyone understands why the Maidan was needed. It was necessary to lower the standard of living of Ukrainians. It has to be so low that they [Ukrainians] must be very happy to go to Europe [and earn money there]: to plow the land for 16 hours a day and to be bent over in the fields under the sun.


Conspiracy theory. Recurring pro-Kremlin disinformation narratives about the 2013-14 Ukrainian revolution.

The demonstrations which began in Kyiv in November 2013 – called "Maidan", or "Euromaidan" – were a result of the Ukrainian people's frustration with former President Yanukovych's last-minute U-turn when, after seven years of negotiation, he refused to sign the EU–Ukraine Association Agreement and halted progress towards Ukraine's closer relationship with the EU due to Russian pressure.

The EU is not helping, but you should not ask for Russian help

Brussels wanted to convince the Western Balkans that it is not “right” to ask for Russian help. The EU organised a summit to convince the Balkan states that aid from Russia and China is not about helping them; instead, it is aimed at “strengthening their positions on the continent.” When Serbia, Montenegro, Albania, Bosnia and Herzegovina and North Macedonia asked for EU help to combat the crisis, Brussels did not do anything, but now the EU demanded that they take part in a video conference.


The claims made in this article are broadly similar to recurring narratives about the EU's complete failure to respond to the coronavirus crisis.

The EU is providing an EUR 3.3. billion package for the Western Balkans, including financial help to their healthcare sectors and exclusive access to EU instruments and medical equipment.