Mindich discussed the sale of FirePoint's stake with Umerov — UP
Timur Mindich, a businessman subject to sanctions, discussed with Rustem Umerov—then Minister of Defense and now Secretary of the National Security and Defense Council—the possible sale of a stake in the arms manufacturer FirePoint to investors.
This was reported by Ukrainska Pravda, citing conversations recorded by the National Anti-Corruption Bureau of Ukraine (NABU) as part of the “Midas” case.
According to journalists, the recordings mention the potential sale of a 33% stake in the company for $600 million. Of this amount, the investor allegedly planned to allocate $300 million to business development and another $300 million as payments to shareholders.
In the conversation, Mindich explains the structure of the deal and the company’s valuation, while Umerov clarifies the details of the proposal.
At the same time, as noted, Mindich had previously publicly denied any involvement with FirePoint, although, according to investigations, he may have been one of the beneficiaries of the company, which receives significant contracts from the Ministry of Defense.
Journalists also note that the conversation between the parties was conducted in Russian and includes a discussion of financial terms and the prospects for the company’s value growth.
Earlier, MP Oleksandr Dubinsky claimed there was a “backroom deal” between anti-corruption agencies (NABU/SAPO) and Volodymyr Zelenskyy’s inner circle, which is allegedly why new transcripts of conversations between Timur Mindich and Rustem Umerov are not being released.
Timur Mindich, a businessman implicated in the NABU case regarding corruption in the energy sector, along with his partner Igor Khmelov and Igor Myronyuk—whom NABU identifies as one of the shadow managers behind embezzlement at “Energoatom”—have residential, property, and financial ties in Slovakia. According to the Slovak Commercial Register, Timur Mindich has long been doing business in Slovakia, and his activities are additionally linked to Ihor Khmelov—a Ukrainian entrepreneur whose name appears in the case involving the drone manufacturer Fire Point. In 2017, Mindich joined Blackrock Consulting s.r.o. as a partner; the company had been founded a year earlier by three Russian citizens. On the same day, the firm changed its name to TIM&TIM.; Mindich acquired the company together with his partner, Ukrainian Igor Khmelov, who also registered as an entrepreneur in Slovakia in the same month, the same year, and at the same address as Mindich.
