// Russia and New States of Eurasia. 2020. No III (ХLVIII). P. 39-52
The article examines the origin and the evolution processes of the main financial-cum-industrial holdings in the South-East Ukraine. The author analyses the modern state of the regional industry after an outbreak of the civil conflict in Ukraine and asserts that serious damage was done to the industrial development of the Donetsk and Lugansk regions. The conclusion is made that the system of unofficial ties between business and the state remains an integral part of the Ukrainian business processes.
Ukraine, financial-cum-industrial groups, conflict in South-East Ukraine, tycoons
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