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Reuters

Business

By Juliette Jabkhiro

Ukrainian billionaire Zhevago to be released on bail pending French extradition hearing

Ukraine France Chambéry

Police officers stand outside the room of the court of appeals after the arriving of the billionaire Kostyantyn Zhevago, in Chambery, France, January 5, 2023. REUTERS/Pierre Albouy

A French court decided on Thursday to release Ukrainian billionaire Kostyantyn Zhevago on bail ahead of an extradition hearing on Jan. 19 on whether he should be sent to Ukraine to face embezzlement charges.

Zhevago, a 48-year-old billionaire who controls London-listed iron pellet producer Ferrexpo, was arrested in France in late December at Ukraine's request and had been detained since.

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