The Battle for PrivatBank: Can Ukraine Bring Its Oligarchs to Heel?

KIEV—When Ukraine’s finance minister went to oversee the nationalization of the country’s biggest bank in December 2016, he took with him a team of bankers—and a security detail of special-forces operatives.

That month, PrivatBank was rescued with an injection of public money that has since grown to around $5 billion. But now, one of the bank’s former controlling shareholders, Ihor Kolomoisky, a local metals-to-media tycoon who once funded a pro-government militia, isn’t letting go without a fight.

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