Ukraine is transferring its war effort from the muddy trenches of Donbass and the corridors of European power to an iconic London stadium this week. Shakhtar Donetsk, Ukraine's premier team displaced from its home in 2014 by Russian forces and pro-Russian separatists, will set up base at Stamford Bridge, home of Chelsea FC, for Europe's major club competition. Its premier is tonight, Wednesday. While air raid sirens sound incessantly back home, team CEO Sergei Palkin and sporting director Darijo Srna met with POLITICO in the marble lobby of a Monaco hotel. They spoke about the team's prospects in the UEFA Champions League and why they are playing for something far greater than matchday success.
"We represent the entire country"
"At this moment, we do not represent only Shakhtar Donetsk. We represent the entire country," stated Palkin shortly before four matches the team will play in London this autumn and winter. "For us, it is also a way to support Ukrainians who fled their homes and settled in London, in England. That is why these games completely change the context. It is very important to consistently send messages of support to Ukraine." Shakhtar's presence among Europe's elite serves as a symbol of Ukraine's own endurance against Moscow's bombardments. The team, forced to leave Donetsk in 2014, has moved between temporary host cities for over a decade. It has kept its Champions League ambitions alive throughout the war, despite the difficulty of attracting top European footballers while based in a war zone.
From Poland and Germany to London
Since the onset of the Russian invasion in 2022, Shakhtar Donetsk has played its "home" matches in Poland and Germany. Management is thrilled to be based in England this year, where it will face AEK Athens of Greece, Sporting CP of Portugal, Fenerbahçe of Turkey, and Real Madrid of Spain. "London is the capital of the football world," Palkin said. "We have no pressure. We want to play football. In Ukraine, we are under stress 24/7. We just want to go out and play for our fans, for Ukraine," added Srna, former star defender for Shakhtar Donetsk and the Croatian national team.
The message to investors: "Invest in Ukraine"
On Shakhtar Donetsk's orange and black jersey, prominent white lettering displays the name SCM, the country's largest private financial and industrial investment group. It belongs to Ukraine's richest man and team owner, Rinat Akhmetov. Russian President Vladimir Putin's relentless assault has cost tens of thousands of human lives in Ukraine and caused infrastructure damage amounting to hundreds of billions of dollars. Ukrainian President Volodymyr Zelensky has traversed the globe in recent months to sustain Western support for Kyiv, which faces a liquidity crunch and shortages of critical air defense systems. SCM executives closely linked to Shakhtar Donetsk are appealing to Western investors, arguing that they represent the key to rebuilding Ukraine and that the process can begin right now. Natalya Yemchenko, head of corporate affairs at SCM, stated that every investment will yield an immediate dividend for Europe. "It is a good time to invest in Ukraine, not from the standpoint of huge and easy profit. It is an excellent time from the standpoint of strategic security, energy security, [and] food security issues. It is a very good time to build strength in Ukraine to protect Europe and make Europe more prepared for the coming years," Yemchenko told POLITICO during a separate event in Monaco.
The issue of corruption
Part of the military and development funding that has flowed into Ukraine during the war has come under scrutiny in corruption investigations. One of the most high-profile cases implicated a former minister in the Zelensky government and the president's top aide, Andriy Yermak. Yemchenko, however, emphasized SCM's commitment to fighting corruption. "We have zero tolerance for corruption within our business. And I would say, based on our experience, when you see major cases, it means the anti-corruption system is working. It would be far worse if, during wartime, we saw no cases being addressed," she said.
Ukraine as Europe's first line of defense
Russia's hybrid campaign against Europe has bolstered SCM's argument in favor of investments in Ukraine. The group maintains that Ukraine is already Europe's first line of defense and that keeping its economy strong renders the rest of the continent safer. For Yemchenko, the investment case is inseparable from the war: Ukraine cannot continue to defend Europe if its economy collapses. As she noted, recent Russian attacks against businesses aim to leave people with a sense of despair. "They want to discourage the Ukrainian business community. Shopping centers, logistics hubs: these have been their primary targets over the last two months. And I believe they want to make life in Ukraine nearly impossible," she said. "We saw it in Mariupol, what they started doing from the very first moment. They begin creating a humanitarian catastrophe. The first target was telecommunications. Then heating. Then water. They destroy everything connected to basic needs. Why? Because they believe people will abandon the cities, including Kyiv," she added. "And again, this war is Ukrainian, but to a large extent, unfortunately, it is also a European war."
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