In a stunning move against one of Ukraine's most powerful figures, oligarch Ihor Kolomoisky was stripped of his citizenship in a bold step that could remove his protections in the event he’s charged for allegedly stealing millions from the nation’s largest bank and concealing the money in steel mills and skyscrapers in the American heartland, The Pittsburgh-Post Gazette writes.

CEETV reminds that Kolomoisky is still believed to be the majority owner of 1+1 Media.

The order by President Volodymyr Zelensky could potentially open the way for prosecutors to move for extradition against the billionaire -- the target of a federal grand jury investigation -- in one of the largest money-laundering cases of its kind.

"They are taking serious measures," said John Herbst, a former U.S. ambassador to Ukraine. "It may be a response to this latest expression of concern about corruption in Ukraine. If this is true, this is a big deal. Ukraine, of course, is fighting for its life."

Mr. Zelensky’s order in the midst of the war with Russia comes after years of legal battles by prosecutors to seize U.S. properties they say the oligarch and his partners bought with money stolen from his former bank -- the losses large enough to cripple the country's economy -- and moved into the United States between 2008 and 2015.

A Pittsburgh Post-Gazette investigation found that after the purchase of the real estate -- including steel plants, skyscrapers, and office parks -- they failed to pay millions in property taxes, shuttered factories, and left hundreds of steelworkers without jobs.

Mr. Zelensky's decision last week represents a surprise move by the Ukraine president, a former actor whose once popular TV show appeared on a network owned by Mr. Kolomoisky and who owes much of his early political success to the oligarch.

Though they were once close, the president has tried to distance himself from Mr. Kolomoisky during his tenure, experts say, and has been under pressure because of the need to respond to the criminal case in the United States and to continue to appease a U.S. government that has been cracking down on kleptocracy and providing funds for Ukraine’s war.

Since the Russian invasion, the U.S. has funneled billions to the country, including a new $270 million military package.

So far, the stripping of the oligarch's citizenship has not been published by the government and the president's office has yet to make a statement. But two sources close to the president and who spoke to the Post-Gazette on the condition of anonymity confirmed the president’s order.

For years, Mr. Kolomoisky was safe in his native country because there’s no extradition treaty between the United States and Ukraine.

But without citizenship, he’s open to being taken into custody and sent to the U.S.

Mr. Kolomoisky, who was banned from the U.S. by the State Department last year over corrupt practices, did not respond Saturday to repeated interview requests.

In addition to Mr. Kolomoisky, nine others, including Gennady Korban, chief of the Dnipropetrovsk Oblast Territorial Defense Force and a one-time ally of the oligarch, and Vadym Rabinovich, leader of the pro-Russian political party, have been stripped of their citizenships, according to a document posted on Facebook and reported by The New Voice of Ukraine news outlet.

Mr. Herbst, the former U.S. ambassador to Ukraine, said he believes such action comes at a critical time for the nation.
"Zelensky is heroically leading the country. And they are very much aware that their image has a corruption problem," he said.

In recent days, Mr. Zelensky fired the head of Ukraine’s spy agency and the prosecutor general over concerns of alleged treason within their agencies.
Paul Pelletier, a former federal prosecutor and fraud chief at the U.S. Department of Justice, said one of the reasons that Mr. Zelensky is taking action against Mr. Kolomoisky is to answer any criticism of the United States for its efforts to help a country known for corrupt leaders.

"I think this is showing in a very tangible way that Zelensky is not your typical Ukrainian leader and he is not going to tolerate corruption," he said. "It's purposeful and he's [messing] with the most powerful people in his country."

The U.S. departments of Justice and State did not respond to media inquiries Saturday.

The actions in Ukraine follow the first ongoing federal money laundering investigation into the steel industry and a case that has deeply impacted the lives of steelworkers in the Midwest.

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