VR Capital has built a powerful position in Ukrainian bonds, giving it enormous influence as companies key to the war effort try to restructure their debt.
Illustration: Sergiy Maidukov for Bloomberg Industries The Big Take Facebook X LinkedIn Email Link Gift Facebook X LinkedIn Email Link Gift By Edward Clark May 17, 2026 at 9:00 PM UTC Bookmark Save In March, management consultant Vira Savchenko took an overnight train from the western Ukrainian city of Lviv towards Dnipro, returning from meetings with a delegation of potential foreign investors. As she crossed central Ukraine in the early hours, the locomotive screeched to a halt.
The conductors rushed the passengers outside, directing them to take cover behind a line of freight cars. “We were lying on the soot-covered tracks,” Savchenko said. “A drone — or several of them, it was hard to tell — was zooming around us in very low circles.” Eventually, they crawled towards a nearby cemetery where they could hide underneath some trees.
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