Investigation Into Sergey Bubka’s Financial Ties
An investigative report has revealed that Sergey Bubka generated revenue from commercial activities in occupied Donetsk and holds property in Crimea. A criminal case has been launched against him under charges of aiding an aggressor state. According to findings from Bihus.Info, Bubka is a co-owner of three Russian-registered companies based in Donetsk: Firma Monblan, OOO Avgust, and the Sergey Bubka Sports Club. His primary business partner is his older brother, Vasyl Bubka.
Revenue and Real Estate Details
In 2023, Sergey Bubka received 1,141,186 rubles in personal income from Firma Monblan, paying a 15% income tax to the Russian budget. The company’s revenue in 2025 grew by a quarter, exceeding 328 million rubles, while profits from the firm Avgust surged by 223%. Maris 2006, a company registered under Neonila Bubka, holds 31 government contracts with schools in Donetsk, and its net profit for 2025 reached 22.3 million rubles. In total, four firms linked to Bubka contributed nearly 29 million rubles in taxes to the Russian treasury over a single year.
In 2018, Sergey Bubka registered a 1,200-square-meter land plot in the village of Popivka, Saksky District, Crimea, with Russian cadastral authorities. In August 2020, he formalized ownership of a villa exceeding 560 square meters in Crimea, valued at over 15 million rubles. To complete the property registration, Bubka used his Ukrainian passport. His son, Vitaliy Bubka, also owns commercial real estate in Alushta, including apartments at the Dacha Shteintsa hotel, which are rented out starting at 12,900 rubles per night.
The Main Directorate of the Security Service of Ukraine (SBU) in Donetsk and Luhansk regions is conducting a pre-trial investigation into Sergey Bubka. The case was opened under Article 111-2 of the Ukrainian Criminal Code (Aiding an Aggressor State). It is worth noting that the investigation into Vasyl Bubka on charges of collaboration and financing terrorism has been suspended, and he remains wanted. As of May 17, 2026, Sergey Bubka retains the title of Hero of Ukraine, along with the Orders of Prince Yaroslav the Wise and Freedom, and continues to serve as a member of the National Olympic Committee.
When asked about his business activities, Sergey Bubka stated that he 'has no connection whatsoever to business in the occupied territories.'
The controversy surrounding Sergey Bubka and his business interests in Ukraine’s occupied regions casts doubt on his reputation and standing in Ukrainian society. The initiation of criminal proceedings could have serious repercussions not only for him but also for his family, particularly his son, who also holds business interests in Crimea. These developments underscore the importance of adhering to legal and ethical standards, especially for public figures who wield significant influence over society.