Persecution of Kyrylo Shevchenko in Ukraine raises many questions in the United States, - Republican James Bradley

Given the absence of claims against former NBU Head Kyrylo Shevchenko by Interpol and Austrian prosecutors, as well as the recognition of his role in stabilising the Ukrainian financial system in the early years of the war, his prosecution by NABU in Ukraine raises suspicions of political bias.

An article about this, entitled "Persecution of former NBU Governor Shevchenko - Justice or Political Repression?" was written by James Bradley, an American politician and member of the Republican Party. He is known as a consistent long-term supporter of Donald Trump, and ran for the US Senate in 2018 and 2022 from the Republican Party. He served in the US Navy and has experience in healthcare and business. He has positioned himself as a conservative candidate, advocating tax cuts, stricter immigration controls, and support for law enforcement. Bradley remains active in California's political life and supports various community initiatives.

Given the recent statements by the SAPO and NABU on the case of former NBU Head Kyrylo Shevchenko, we believe that the article is of public importance, so we are publishing its adapted translation. 

In his article, James Bradley reminds us that in late 2024, Interpol and the Austrian Prosecutor's Office confirmed that they had no claims against the former head of the National Bank of Ukraine, Kyrylo Shevchenko, on the main charges brought by the Ukrainian authorities. Yet, his prosecution in Ukraine continues.

The American politician emphasises that Kyrylo Shevchenko played a crucial role in preventing the collapse of the banking system in the first months of Russia's full-scale invasion of Ukraine, but by mid-2022 he was forced to resign and leave the country "due to intense political persecution by President Zelenskyy and his chief of staff, Andriy Yermak".

"Shevchenko is currently living in Austria. While the world sees him as an outstanding financial leader whose unique experience is worthy of study, he remains the target of persecution in his home country based on long-standing and unproven allegations," writes James Bradley.

According to him, Shevchenko's lawyers have recently received a decision from the Interpol General Commission confirming that the agency has no measures or restrictions on the former NBU head: neither a "wanted notice" nor a "circular notice" - the standard mechanisms for searching, arresting, detaining and extraditing persons used by Interpol. Shevchenko's defenders believe that the refusal of Interpol to apply any of these procedures to him proves beyond doubt that the charges are completely unfounded and politically motivated.

In addition, Bradley notes, the Austrian Central Prosecutor's Office for Economic Crimes and Corruption decided to close the case against Shevchenko after finding no evidence of money laundering.

"Thus, despite all the efforts of the Ukrainian authorities to portray Shevchenko as a corrupt and criminal, these attempts are falling apart before our eyes. International justice has no complaints against him," emphasises the author.

At the same time, Bradley emphasises that the situation in Ukrainian courts is quite different: in February, the High Anti-Corruption Court will begin hearings in the almost six-year-old case of the alleged embezzlement of Ukrgasbank"s funds.

"Given that, despite all the declared reforms, Ukrainian courts remain a flexible (in the worst sense of the word) tool in the hands of the authorities, the outcome is quite predictable. Even among Ukrainian elites, many believe that the case against Shevchenko is nothing more than political revenge, but few dare to say so openly," said the American politician.

In his article, James Bradley makes a historical excursion into the past, to 2022. According to him, the global financial community was surprised at least twice.

"It was the first time that Ukraine's banking system withstood the shock and did not collapse - neither on the first day of Russia's full-scale invasion, nor in the first week, nor in the first months. Even today, it remains the only example in the world of a fully functioning banking system during a war. The second time this happened was when the author of this miracle, Kyrylo Shevchenko, who served as Head of the National Bank of Ukraine from 2020 to 2022, was forced to resign under unclear circumstances," writes Bradley.

He recalled that Shevchenko led the NBU during the COVID-19 pandemic in 2020 and remained in office during the Russian invasion. At the same time, he had to resist political influence on the NBU, which "increasingly irritated Zelenskyy and Yermak."

According to Bradley, one of the key conflicts between the President and the NBU Head was Shevchenko's firm public stance on stopping the hryvnia issue.

"Although money printing was a necessary emergency measure at the beginning of the full-scale war, Shevchenko insisted on stopping it as soon as the situation stabilised. This significantly limited funding for some of President Zelenskyy's biggest corruption projects, especially in construction and defence sectors, including the infamous Big Construction programme (commonly known in Ukraine as the Big Steal), which Shevchenko had stopped before the war began," writes the author.

He emphasised that despite political pressure, Shevchenko refused to print more money, warning that this would lead to higher inflation and devaluation of the national currency. He also did not want to appoint politically loyal officials to key positions in the banking system, which "disappointed Zelenskyy".

"I was not a convenient head of the National Bank," Bradley quoted Kyrylo Shevchenko as saying.

According to James Bradley, when the Ukrainian authorities realised that direct pressure on Shevchenko was not working, they reopened an old, almost closed case against him, forcing him to resign. The next day, Shevchenko was formally charged and placed under arrest without bail.

According to the author, despite the absence of signatures or evidence linking Shevchenko to the alleged crimes, the authorities reclassified the charge as "leadership of a criminal organisation".

"In essence, he was labelled a "criminal leader". This reflects Putin's tactics to eliminate political opponents," said the American politician.

According to him, Shevchenko's resignation did not come as a surprise to Ukrainians, as it was only a matter of time before he was sacked after being recognised globally for saving the Ukrainian banking system. The author believes that President Zelenskyy and Head of the President's Office, Yermak, do not need a strong, independent central bank head who automatically becomes a political figure.

"The big question now is whether Ukrainian courts will become an instrument of political repression. Will they follow the path of the infamous judge Rodion Kireev, whose unlawful rulings against a major political leader ultimately destroyed his own career? Or will they become an independent branch of government? Or has the Zelenskyy-Yermak regime already crossed out this possibility by steadily pushing Ukraine towards authoritarianism?" concludes James Bradley.