Billionaire collector puts Kiev museum on hold

Victor Pinchuk, the Ukrainian billionaire who has run a private gallery in Kiev since 2006, has shelved plans to build an “iconic” new museum in the city. “Now is not the time to build in Ukraine,” he tells The Art Newspaper. In 2011, Pinchuk revealed that he was planning to hire a top international architecture firm to create a “landmark building” in Kiev within five years. But Russia’s military incursion into the country has halted his ambitions, at least for now. It has also hit his business hard. Pinchuk’s pipe manufacturing company, Interpipe, currently has no revenue from Russia, once its main market, according to Forbes.