CEO of Ukraine's Largest Agricultural Company 'Nibulon' Dies in Russian Airstrike

Oleksiy Vadatursky, founder of Ukraine's largest agricultural company 'Nibulon' [Image source= United Nations Food and Agriculture Organization (FAO)]

[Asia Economy Reporter Hyunwoo Lee] The founder of 'Nibulon,' one of Ukraine's largest agricultural companies, has died due to a Russian airstrike. As Russian airstrikes near Black Sea ports intensify ahead of the resumption of Black Sea grain exports, concerns are growing that the safety of grain exports will continue to be threatened.

According to Bloomberg on the 31st (local time), Oleksiy Vadatursky, the founder and CEO of Nibulon, Ukraine's largest agricultural company, died in a Russian military airstrike at his home in Mykolaiv. Vitaliy Kim, governor of Mykolaiv, stated on his Telegram, "From last night until this morning, Russian bombings on Mykolaiv resulted in the deaths of Nibulon CEO Oleksiy Vadatursky and his wife at their home."

Vadatursky was a prominent Ukrainian grain magnate, ranked 7th among Ukraine's wealthiest individuals with a net worth of $710 million (approximately 930 billion KRW) as of 2016, according to local media. Nibulon, which he led, is Ukraine's largest agricultural company headquartered in Mykolaiv, handling everything from grain production to export.

Nibulon is particularly known for being the only company in Ukraine with its own fleet and shipyard, with annual sales reportedly around $2 billion (approximately 2.6 trillion KRW). Alongside 'Kernel,' another major Ukrainian agricultural company, it competes for the top spot in agricultural company revenues within Ukraine.

Ukrainian President Volodymyr Zelensky stated in a press release, "Vadatursky was building a modern grain market, including transshipment terminals and elevator networks," adding, "His death is a great loss to all Ukrainians."

In addition to the Vadatursky couple, three civilians were injured in the overnight bombing. Oleksandr Senkevych, mayor of Mykolaiv, said on Telegram that 12 missiles launched by Russia targeted residential and educational facilities. He added, "This bombing seems to be the most severe since the war began."

Mykolaiv is the largest city closest to Kherson, a key southern stronghold occupied by Russia, and has become a daily target of Russian attacks as Ukraine intensifies its operation to retake Kherson.

As Russia increases missile strikes around Mykolaiv and the Black Sea region, the safety of the soon-to-be-resumed Black Sea grain exports is expected to be threatened. Earlier that day, Ibrahim Kalin, spokesperson for the Turkish Presidential Office, said in a briefing, "If the details are finalized by August 1, the first ship is likely to depart on the 1st," adding, "At the latest, we can expect departures by the 2nd."