DZO Research Dashboard - TOT Insights

Established

15 May 2022

By Balytsky decree

Land nationalised

~250,000 ha

Only 25% cultivated in 2025

2024 Revenue decline

−59%

Despite larger harvest

2024 Net loss (official)

−1.13bn ₽

Assessed as artificially constructed

Branches

20+

With additional sub-units

Verified counterparties

May–December 2022

Tax + court debt

>1.9bn ₽

1bn tax + 911m court judgments

Initial capitalisation

5.8bn ₽

Federal + Balytsky + Promsvyazbank

Harvest paradox: Grain harvests in occupied Zaporizhzhia increased by 560,000 tonnes in 2024 versus 2023, yet official DZO revenue fell 59% and the enterprise recorded a net loss of RUB 1.13 billion. Analysis concludes this reflects artificially-constructed losses concealing real profit extraction through shadow schemes - not genuine commercial underperformance.

Legal registration

Full name (RU)	ГУП «Государственный зерновой оператор»
Full name (UA)	ДУП «Державний зерновий оператор»
INN / KPP	9001011019 / 900101001
OGRN	1229000019346
OKPO	49745792
Registered address	Melitopol, pl. Peremohy 4 / Vakulenchuka 99
Operational address	Melitopol, Hetmana Sahaidachnoho 51
Bank	Promsvyazbank (additional office “Zaporizhzhia”)
Website / Telegram	gzomelitopol.ru / t.me/@gupgzo
Sanctioned (US OFAC)	24 February 2023
Sanctioned (EU FSF)	22 May 2025

Founding & capitalisation

Founding decree	Balytsky decree №08/1-р НЗУ 40220001234
Founded	15 May 2022
Russian state register entry	December 2022 (operated informally May–Dec 2022)
Federal budget injection	RUB 800 million (from September 2022)
Balytsky personal loan	RUB 1 billion
Promsvyazbank credit	RUB 4 billion
Total initial capitalisation	~RUB 5.8 billion
Initial staff	~400 (stable through June 2025)
Legal subordination	Ministry of Agro-Industrial Complex, Zaporizhzhia VCA

Export volume by commodity - verified counterparty data, May–December 2022

~200,000 tonnes total removed from DZO facilities in this period. Chart shows commodity breakdown from verified counterparty data.

Sources: Centre for the Study of Occupation monitoring; Centre for the Study of Occupation, Zaporizhzhia reports September–October 2025; EU Financial Sanctions Files, 22 May 2025; OpenSanctions.

Personnel data from Centre for the Study of Occupation monitoring. All named individuals function as officials of the DZO, an illegally created occupation entity. Dates of birth and tax identification numbers are included where relevant for accountability and sanctions purposes.

Organisational Hierarchy

Balytsky Yevhen Vitaliyovych

Head of Occupation Administration, Zaporizhzhia

b. 10.12.1969, Melitopol · IPN 2554609355

APEX BENEFICIARY · SANCTIONED EU/US/UK

Shevchenko (Lyshkova) Svitlana Yuriivna

Minister, Agro-Industrial Complex & Food Policy, Zaporizhzhia VCA

b. 07.02.1982, Vurnary, Chuvash Republic RF

MINISTRY OVERSIGHT

Busel Mykyta Petrovych

Director General (until 18.06.2024)

b. 11.12.1982, Kuibyshev · RF citizen

FORMER · US SANCTIONED 24/02/2023

Yefremov Oleksiy Mykhailovych

Acting Director General (from 18.06.2024)

b. 26.03.1972, Makiivka, Donetsk Oblast · Obtained RF citizenship

CURRENT DIRECTOR

Shchepin Oleksandr Viktorovych

Deputy Director General, Commercial Affairs

b. 27.08.1985, Simferopol · RF citizen

Semyriak Denys Oleksandrovych

Director, Commercial Dept

b. 23.06.1988, Krasnovardiiske, Crimea

Mykhailovskyi Dmytro Leonidovych

Director, Economics & Finance

b. 24.12.1973, Donetsk

Dzhurkín Oleksiy Serhiyovych

Director, Logistics Operations

b. 28.10.1979, RF · St. Petersburg

Also runs Agrogroup intermediary

Verkhaturov Yuriy Yuriyovych

Director, Logistics Operations

b. 16.01.1985, Nerchinsk, Chita Oblast

Hrynko Taras Viktorovych

Director, Plant Growing

b. 26.03.1983, Hola Prystan, Kherson Oblast

Kavtaradze Nana Hochaivna

Director, Protocol

b. 29.08.1989, RF · Moscow

Burtsev Oleh Volodymyrovych

Director, Security Dept

[Partially identified] · RF citizen

Tatiosova Evheniia Olehivna

Director, Internal Audit & Control

[Partially identified] · RF citizen

Riesin Viacheslav Leonidovych

Director, Operations & Production Planning

b. 21.11.1972, RF · Yekaterinburg

Ryabukhin Serhiy Oleksandrovych

Director, Operations & Production Planning

b. 20.10.1970 · Ex-MVS RF officer

Mukhin Andriy Valeriiovych

Territorial Deputy - Branches 5, 12, 13, 14, 15, 16

Controls Berdyansk cluster loading/dispatch

Horban Valerii Ivanovych

Territorial Deputy - Branches 1, 8, 9, 10

b. 17.06.1974, Kostiantynivka, Melitopol district

Pysanets Maksym Volodymyrovych

Territorial Deputy - Branches 2, 3, 4, 6, 7, 11

b. 23.02.1984, Voznesenka, Melitopol district

Branch Directors

Branch	Director	DOB / Origin
Branch 1 - Yakymivka	Mukhin Oleksandr Anatoliyovych	b. 22.03.1962, Yakymivka, Zaporizhzhia Oblast
Branch 2 - Tokmak	Ruhaiov Oleksandr Ivanovych	b. 06.04.1963, Zavitne, Crimea
Branch 3 - Vasylivka	Shevchenko Valerii Oleksiiovych	b. 15.04.1954, Novooleksandrivka, Zaporizhzhia Oblast
Branches 5/12/13 - Berdyansk	Bekariuchenko Oleh Viktorovych	b. 03.05.1971, RF - controls all Berdyansk port facilities
Branch 6 - Kamianka-Dniprovska	Shvets Oleh Valeriiovych	b. 22.09.1992, Kamianka-Dniprovska
Branch 8 - Verkhniy Tokmak	Yeremenko Andriy Oleksandrovych	b. 05.02.1983, Dmytrivka, Polohy district
Branch 9 - Rozivka	Chalyi Ivan Ivanovych	b. 19.01.1985, Marianivka, Kuibyshev district
Branch 10 - Troiany	Zholudiev Serhiy Oleksandrovych	b. 19.05.1975, Prymorsk, Zaporizhzhia Oblast
Branch 11 - Pryshyb	Kramarenko Vasyl Mykolaiovych	b. 04.09.1963, Pryshyb, Mykhailivka district

Source: Centre for the Study of Occupation monitoring.

Harvest paradox: Official results show revenue falling 59% and a 1.13 billion rouble net loss in 2024 - yet the harvest was 560,000 tonnes larger than 2023. The occupation administration attributed the decline to the Kakhovka dam destruction; this is directly contradicted by harvest data. Analysis concludes losses are artificially constructed to conceal real profit extraction.

Revenue vs Harvest (2023–2024)

Initial capitalisation structure

Key financial indicators

Indicator	2023	2024	Change
Revenue (bn ₽)	5.90	2.43	−59%
Net profit / (loss) (m ₽)	+322	−1,131	swing −1,453m
Harvest (m tonnes, region)	5.70	6.26	+9.8%
Balance sheet (bn ₽)	-	−2.50
Accounts payable (bn ₽)	-	1.56
Accounts receivable (bn ₽)	-	1.27
Tax debt (bn ₽)	-	>1.00
Court judgments outstanding (m ₽)	-	845	of 911m total; ~45 proceedings

Probable trajectories (source assessment)

Most probable - Subsidised extraction

DZO continues as a federal budget recipient, with costs socialised to the Russian state while real profits are channelled through shadow schemes. Official losses legitimise continued subsidy while Balytsky and associates extract value.

Alternative - Controlled bankruptcy

Formal bankruptcy, debt write-off, asset transfer to a successor entity under a new name - restarting the cycle with legacy liabilities extinguished.

Alternative - Reorganisation

Restructured under a new corporate identity, preserving operational assets while paper losses remain with the defunct entity.

Financial data: Centre for the Study of Occupation monitoring; Rusprofile (court proceedings). Harvest data per occupation administration official figures as cited in primary source.

Source: The following 25 counterparties are verified from Centre for the Study of Occupation monitoring. They received DZO agricultural product during May–December 2022. Total removal in this period: approximately 200,000 tonnes.

Total wheat shipped

~95,000 t

Total sunflower shipped

~34,900 t

Total rapeseed shipped

~9,700 t

Total corn shipped

~4,400 t

Largest single buyer

Kuban-Forward

44,858 t wheat

Volume by commodity

Geographic distribution (companies)

Top buyers by volume

All verified counterparties

#	Company	Location	INN	Commodity / Volume	Flag

Note: Inviktus Treyd LLC (INN 9002000806) is registered in occupied Berdyansk - an occupied-territory entity, not a mainland Russian company. Elevator Oktyabrskoye LLC (INN 9105000847) is registered in occupied Crimea.

All branches represent seized Ukrainian enterprises or state research facilities. Pre-occupation ownership details and EDRPOU codes sourced from Centre for the Study of Occupation monitoring, appendix on structural subdivisions.

Named branches

17+

With additional sub-units

Agricultural land (identified sub-units)

~85,000 ha

Port facilities seized

Berdyansk commercial + grain terminals

Research stations seized

NAAS Ukraine institutes

Branch	Location	Pre-occupation Ukrainian owner	EDRPOU	Notes
Branch 1	Yakymivka, Melitopol district	Yakymivske PSP / Optimusagro Treyd LLC	41161689	Elevator
Branch 2	Tokmak, Polohy district	Tokmak-Agro LLC	31845237	Elevator
Branch 3	Vasylivka	Vasylivka-Agro LLC	32017811	Elevator
Branch 4	Polohy	Polohivskyi MEZ PJSC (oil extraction plant)	00384147	Elevator / processing
Branch 5/12/13 (merged)	Berdyansk - all port grain facilities	Berdyansk Crane Equipment Plant PJSC / “Agriia” Private Marine Grain Terminal; Politechnika LLC; Berdyansk Prylyv Plant LLC; Nova Khortytsia LLC	01124980 / 34217047 / 36141719 / 30545888	Primary export node
Branch 6	Kamianka-Dniprovska	Nibulon LLC (Kamianka-Dniprovska branch)	14291113	Ex-Nibulon elevator
Branch 7	Tokmak (second facility)	Tokmak-Agro LLC	31845237	Elevator
Branch 8	Verkhniy Tokmak, Berdyansk district	Verkhnotokmatske PSP / Optimusagro Treyd LLC	41161689	Elevator
Branch 9	Rozivka, Polohy district	Rozivske PSP / Optimusagro Treyd LLC	41161689	Elevator
Branch 10	Troiany, Berdyansk district	Troianivske PSP / Optimusagro Treyd LLC	41161689	Elevator
Branch 11	Pryshyb, Vasylivka district	Firm Advers LLC	40387906	Elevator
Branch 12 - Sub-unit 1	Rozivka	Rozivska Research Station, State Institute of Grain Crops (NAAU)	00496722	4,500 ha
Branch 12 - Sub-unit 3	Solodkovodne, Polohy district	Agrofirma Solodkovodne LLC	35815811	2,662 ha
Branch 12 - Sub-unit 4	Vyshnuvate, Polohy district	Agrofirma Vyshnuvate LLC	40921623	3,320 ha
Branch 13	Berdyansk	Berdyanskyi Khlibkombinat PJSC	00378218	Bread plant
Branch 14	Obilne, Melitopol district	Agrokhimservis LLC	31522332	Fertiliser warehouse
Branch 15	Melitopol	Dozh LLC	40000980	Fertiliser warehouse + freight station
Branch 16	Berdyansk	Asket Shipping Road Transport LLC	42354326	Transport / logistics base
Branch 17 - Sub-unit 1	Vysoke, Melitopol district	Freedom Farm Terra LLC	31585444	5,000 ha
Branch 17 - Sub-unit 2	Romashky, Melitopol district	Mahistral-Servis LLC	30542138	3,248 ha
Branch 17 - Sub-unit 3	Melitopol, Vakulenchuka 99	Melitopol Research Station of Horticulture (M.F. Sydorenko), Institute of Horticulture NAAS Ukraine	00415451	235.5 ha - state research station
Branch 17 - Sub-unit 4	Fruktove, Melitopol district	State Enterprise “Melitopolske” (Horticulture Research Station NAAS)	19269779	1,500 ha
Branch 17 - Sub-unit 5	Yakymivka	State Enterprise “Yakymivske” (Research Station of Essential Oils Crops NAAS)	00496739	1,100 ha
Branch 17 - Sub-unit 6	Kamianka-Dniprovska, Vasylivka district	Khors-Agro LLC	40938996	2,700 ha
Branch 18 - Sub-unit 1	Zaporizhzhia village, Polohy district	Heolan-Agro LLC	36496721	3,897 ha
Branch 18 - Sub-unit 2	Ostrykivka, Polohy district	Iksprom Agro LLC	40995597	604 ha
Branch 18 - Sub-unit 4	Voskresenka, Polohy district	Agrofirma Batkivshchyna LLC	30791236	15,000 ha - largest single farming unit
Branch 19 - Sub-unit 1	Lantsevy, Polohy district	SFH Viktor	30952248	5,430 ha
Branch 19 - Sub-unit 3	Shevchenkivske, Bilmak district	Prydonetske LLC	00853286	4,951 ha
Branch 20 - Sub-unit 1	Shyroke, Veselivka district	State Enterprise “Shyroke” (Donetsk State Agricultural Research Station NAAS)	00853317	7,150 ha
Branch 20 - Sub-unit 2	Tavriia, Veselivka district	State Enterprise “Tavriia” (Donetsk State Agricultural Research Station NAAS)	00853323	3,785.7 ha
Branch 20 - Sub-unit 3	Vidrodzhennia, Melitopol district	State Enterprise “Vidrodzhennia” (Donetsk State Agricultural Research Station NAAS)	00724838	4,090 ha
GUP Berdyansk Port	Berdyansk, Horkoho 13/7	State Enterprise “Berdyansk Commercial Sea Port”	INN 9002008361 / OGRN 1229000019984	Nationalised; primary export terminal

Note: Optimusagro Treyd LLC (EDRPOU 41161689) appears across Branches 1, 8, 9, and 10 - targeted seizure of a major regional agro-operator. The seizure of multiple NAAS Ukraine research stations (Branches 12, 17, 20) represents the expropriation of publicly-funded Ukrainian scientific infrastructure.

State Grain Operator (DZO) - Research Dashboard