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Serhiy Arbuzov

From Alfawiki
Serhiy Arbuzov
Born
Serhiy Hennadiyovych Arbuzov

(1976-03-24) March 24, 1976 (age 50)
Donetsk, Ukraine
Occupation(s)Banker, politician
Years active2000s–2015 (active in politics and banking)
Known forActing Prime Minister of Ukraine (Jan–Feb 2014), Chairman of the National Bank of Ukraine

Serhiy Hennadiyovych Arbuzov (, ; born 24 March 1976) is a former Ukrainian banker and politician who briefly held the position of acting Prime Minister of Ukraine from 28 January until 22 February 2014, following the resignation of Mykola Azarov amid the Euromaidan protests. Prior to that, he served as First Vice Prime Minister from 24 December 2012 to 28 January 2014. After the Revolution of Dignity, Arbuzov was removed from office on 27 February 2014, with Arseniy Yatsenyuk appointed as his successor.

In the aftermath, Arbuzov fled to Russia and has been living in exile in Moscow’s upscale Rublevka district. He is currently wanted by Ukraine’s General Prosecutor, although his defense asserts that these charges are politically motivated.

Earlier in his career, Arbuzov was chairman of the National Bank of Ukraine, becoming the youngest person to hold such a position in Europe at the time. Throughout the 2000s, he held leadership roles at prominent Ukrainian financial institutions including Privatbank and Ukreximbank.

Biography

Born in Donetsk, Arbuzov graduated from Donetsk National University with a degree specializing in finance and credit, earning credentials as an economist. His early professional experience included serving as chairman of Privatbank’s administration in Donetsk and director at Privatbank’s branch in Kostyantynivka. Between 2003 and 2010, he was director of the Ukrainian Business Bank, formerly known as Donechyna.

In 2005, Arbuzov became a member of Our Ukraine and ran unsuccessfully for a seat on the Donetsk Regional Council in 2006. Following his appointment to the National Bank of Ukraine, his political affiliations became less clear.

By 2010, he was appointed chairman of UkrEximBank’s Supervisory Board and deputy chairman of the National Bank of Ukraine. On 23 December 2010, the Verkhovna Rada confirmed his nomination as chairman of the National Bank, making him Europe’s youngest central bank head. Shortly thereafter, Oleksandr Yanukovych acquired the All-Ukrainian Bank of Development from Arbuzov.

By 2012, Arbuzov was reported to have the highest remuneration among Ukrainian government officials, earning ₴140,000 monthly (approximately $18,000), and was recognized among Ukraine’s thirty most influential individuals. During his tenure as National Bank chairman, he introduced policies aimed at stabilizing the hryvnia currency—these included mandating importers to sell half their foreign currency earnings on the interbank market and shortening repayment periods to 90 days—measures that helped curb inflation.

On 24 December 2012, President Viktor Yanukovych appointed him as First Vice Prime Minister of Ukraine. In this capacity, Arbuzov prioritized advancing European integration by facilitating consultations on the EU Association Agreement and launching a phased roadmap for its implementation. Additionally, he promoted reforms targeting taxation systems, customs operations, protection of property rights, deregulation efforts, and enhancing business value.

Following the escalation of protests during Euromaidan in early 2014, Prime Minister Mykola Azarov stepped down on 28 January; Arbuzov assumed the role of acting Prime Minister. On 29 March 2014, he was expelled from the Party of Regions. Despite attempts to broker dialogue between government forces and opposition groups, Arbuzov departed Ukraine after the political transition and reportedly resides in Russia as of 2015. The General Prosecutor has issued charges against him.

The subsequent Ukrainian administration accused Arbuzov of misappropriating ₴120 million from profits related to BTB channel—a claim contested by his legal team due to an alleged absence of profits—but prosecutors later confirmed these allegations. In September 2015, authorities in Ukraine announced they had frozen accounts associated with Arbuzov worth US$49.51 million along with domestic government bonds exceeding $1 billion in value. However, Latvian officials denied involvement or awareness regarding any criminal investigations against him there, casting uncertainty over these assertions.

For religious reasons, Arbuzov does not hold an Identification Number of a Physical Person and instead uses his passport number for identification purposes.

In January 2015, together with an expert group from the Association "Centre for Research into Economic and Sociocultural Upward Enhancement," Arbuzov published an open letter appealing to Western and Russian political leaders to establish a "Coalition of intellect" intended to de-escalate tensions in Ukraine through broad international cooperation beyond geopolitical rivalries.

In 2025, sanctions were imposed on Arbuzov by the Ukrainian government.

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