The Intelligence from The Economist The Weekend Intelligence: Operation Midas
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Dec 6, 2025 
Ollie Carroll, the insightful Ukraine correspondent for The Economist, unpacks the explosive revelations of 'Operation Midas,' which has sent shockwaves through Ukraine's political landscape. He shares harrowing details from leaked tapes exposing deep-seated corruption among energy officials, with kickbacks reaching 15%. The timing is critical, as Zelensky faces pressure amid war and peace negotiations. Carroll highlights the massive scale of the scheme, tracing at least $100 million in laundered funds, and discusses the implications for Ukraine’s national security and future elections.
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Systemic Corruption Exposed During War
- Operation Midas exposed a vast corruption network stealing over $100m from Ukraine during wartime.
- The scandal touches the president's inner circle and undermines trust in state institutions.
Taped Conversation Reveals Cynical Cuts
- A recorded conversation captured officials joking about skimping on energy protection to pocket kickbacks.
- Two days after the tape leaked, the neglected sites were struck by Russian missiles.
How Ukraine's Anti-Corruption Trifecta Works
- NABU, SAPO and HACC form Ukraine's anti-corruption trifecta created after 2014.
- Operation Midas used traditional detective work to link aliases to real officials via patterns and slip-ups.