Ukrainian billionaire Ihor Kolomoisky arrested

(Patria) - One of the most powerful Ukrainian oligarchs will be held in custody for two months on suspicion of fraud and money laundering, the BBC reported.

Ihor Kolomoisky allegedly transferred $14 million abroad over seven years, using banks he controlled. His lawyers say he will not pay bail and will appeal the court order.

It is the latest move in Ukraine's anti-corruption effort, which has targeted several high-profile figures. In his regular evening video address on Saturday, President Volodymyr Zelenskiy seemed to allude to the case, saying there would be no return to "business as usual for those who have plundered Ukraine and placed themselves above the law".

"Each of us feels that this will be a Ukraine with different rules," he said.

He cited the fight against corruption as one of his main priorities when he came to power in 2019.

Since the Russian invasion in February 2022, his administration has been keen to highlight Ukraine's crackdown on corruption, seen as one of the key tests the country must pass to join Western institutions such as the European Union.