NABU closes probe into Archer sights maker over lack of evidence

The National Anti-Corruption Bureau of Ukraine (NABU) has closed a high-profile investigation into Thermal Vision Technologies, a company that produces Archer thermal imaging sights and monoculars, the bureau’s press service reported on Monday.

In October 2023, NABU searched the company on suspicion of embezzling UAH 1.5 billion in public funds. The investigation was launched based on financial monitoring materials provided by an EU member state.

The searches attracted widespread public attention and the issue was even discussed at a closed session of the Verkhovna Rada’s Committee on National Security, Defense and Intelligence.

"The investigation did not gather enough evidence to prove that the actions of the Ministry of Defense and Archer officials amounted to a criminal offense. Initial assessments do not always confirm the existence of a crime or result in prosecution. At the same time, such cases provide grounds for improving practices and internal procedures," NABU said.

• In April 2025, then-Minister of Strategic Industries Herman Smetanin stated that one-third of Ukraine’s GDP growth last year was driven by the defense sector — 1.27 percentage points out of 3.9%.
• In June, President Volodymyr Zelenskyy said the potential of Ukraine’s defense industry exceeds $40 billion, but 40% of this amount remains unfunded.