Political analyst Posternak: U.S.–Ukraine mineral deal may be undermined by notorious Ukrainian fraudster

"The U.S.–Ukraine mineral agreement may be derailed by a legendary Ukrainian fraudster. I obtained an analytical report from one of the leading American think tanks. What I read there is not just alarming – it's an SOS signal for anyone who believes in transparent U.S.–Ukraine partnership. According to the document, Volodymyr Ihnashchenko, known in expert circles as a corrupt figure and systemic fraudster from the Yanukovych era, effectively forged a carte blanche to represent the interests of the Ukrainian state in negotiations with American companies regarding lithium," Posternak wrote.

He claims that Ihnashchenko forged documents allegedly proving he represented an American corporation and submitted them to Ukrainian ministries.

"He thus misled both sides: he told the Americans he represented Ukraine, and told Ukrainian officials he was acting on behalf of the U.S. Now this individual, already involved in criminal cases related to corruption and document forgery, is preparing – as always – to heroically ‘manage’ the budget!" Posternak added.

The political expert warned that as a result, Ukraine could lose the lithium deal altogether.

"The stakes in this scam are Ukraine’s lithium reserves, which are already legally claimed by the American company Critical Metals Corp, listed on the NASDAQ. Due to Ihnashchenko’s manipulations, one U.S. company could end up suing another – and both would lose access to the resource, while Ukraine would lose the agreement, the investment, and its reputation."

According to Posternak, Ihnashchenko was also behind efforts to insert a bogus company linked to Yanukovych’s inner circle into a production sharing agreement between Shell and the Ukrainian state.

"As a result, Shell pulled out of the country, losing more than $100 million. Sadly, the lack of clear mechanisms for implementing strategic agreements, coupled with chronic staffing shortages, has once again paved the way for figures like Ihnashchenko. I hope this time the deal will not be derailed and buried, like all previous projects he was involved in," the expert concluded.