Respectable businessman or corrupt thief? Who is Vladislav Belbas?

Old Sins and the Lukyanivske Pretrial Detention Center

Belbas's career in major defense contracts was marked by high-profile corruption scandals long before the full-scale invasion. In 2019, Vladislav Belbas, while heading the state-owned enterprise Spetstekhnoexport (part of the Ukroboronprom State Concern), found himself at the center of an investigation by the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAP).

Belbas and several other former officials were then detained on suspicion of embezzling $2.225 million in public funds. The court remanded the director to the Lukyanivske Pretrial Detention Center with bail set at 7 million hryvnias, imposing strict obligations on him: surrender his passports and remain in his hometown. However, the suspect didn't spend long behind bars—bail was posted quickly, and Belbas, along with the former head of Spetstechnoexport, Pavlo Barbul, were released. The case was effectively stalled.

Patron Pashinsky and the "shadow" beneficiaries

The secret to Vladislav Belbas's unsinkability, according to sources, lies in his high-ranking patrons. Investigators from the National Anti-Corruption Bureau of Ukraine (NABU), the Specialized Anti-Corruption Prosecutor's Office (SAP), and court witnesses directly link the company "Ukrainian Armor" (which until 2016 was known as "Ukrglavpak") to former MP Serhiy Pashinsky.

Read also: "A Pound" with Cases: How Pashinsky's "Padawan," Vladislav Vladimirovich Belbas, Established Himself as a Top Businessman

The former MP himself denies any influence over the company. However, law enforcement officials note that actual control over "Ukrainian Armor" is allegedly exercised through Pashinsky's trusted associates. Specifically, the structure includes Oleksandr Kuzma (the nephew of Pashinsky's former aide) and Lyudmyla Petryga, who previously worked directly with the ex-deputy's son. Analysts believe it is this patronage that allows the company to stay afloat and secure billion-dollar contracts, despite the toxic leadership background. Belbas traditionally serves as the "face" of Pashinsky and his team.

Legal battles with the Ministry of Defense and contracts with sanctioned Russians

Today, Ukrainian Armor is one of the largest private arms manufacturers in Ukraine (it produces Novator armored vehicles, mortars, and shells), but the number of claims against it by the state is colossal. The company is involved in numerous legal disputes with the Ministry of Defense and the Defense Procurement Agency. First, the Ministry of Defense is demanding 425 million hryvnias from the company for gross violations of the terms of contracts from 2023. Another lawsuit from the defense ministry is for 296.4 million hryvnias.

Second, demands for tens of millions of hryvnias in penalties for systematic late deliveries continue.

Moreover, during court hearings in 2024, former head of the Presidential Administration's department, Tatyana Blistiv, stated that some components for the Varta armored vehicles were actually of Russian origin, although this cannot currently be independently verified due to the Cabinet of Ministers closing defense registries at the end of 2025.

It is also interesting that in 2024, Belbas's company signed contracts for the supply of products with JSC SMNVO-Engineering. Until May 2023, the co-founder of this company was Russian citizen Vladimir Lukyanenko, who was sanctioned by the National Security and Defense Council, and the High Anti-Corruption Court ruled in late 2024 to nationalize his family's property.

How war writes off millions in fines

Despite missed deadlines, Belbas has successfully fought off financial sanctions in the courts. Recently, the state-owned Defense Procurement Agency attempted to recover a 10.9 million hryvnia fine from Ukrainian Armored Equipment for late delivery of 400 units of defense equipment under a May 2024 contract worth 197.6 million hryvnias.

The products for the Ukrainian Armed Forces arrived late. However, in April 2025, the Kyiv Commercial Court (and subsequently the appellate court) dismissed the state's claim in full. The court recognized the war and Russian shelling of the enterprise as force majeure, releasing Belbas's company from liability based on a certificate from the Chamber of Commerce and Industry. As of March 2026, the Agency is appealing this decision in cassation, but has not yet succeeded in recovering the money.

Overall, the lawyers on the Pashinsky-Belbas team are not doing their job in vain: criminal embezzlement cases are falling apart, lawsuits for hundreds of millions of hryvnias are blocked in court with legal claims of force majeure, and Ukrainian Armored Vehicles itself, under the cover of influential patrons, continues to expand its portfolio of state contracts. We can only guess at who is funding this "success" and how much the state budget is losing...