Ukraine nationalizes Russian oligarch's plants, agricultural holding worth UAH 2bn

The decision of the Appeals Chamber of the High Anti-Corruption Court (HACC) has confiscated all assets of Demuryne Mining and Processing Plant LLC, namely, corporate rights in the amount of 100%, movable and immovable property of the enterprise and cash on accounts in the amount of UAH 14.4 million, the Bureau of Economic Security (BES) has said.

Earlier, the decision of the HACC imposed a sanction on Russian citizen Mikhail Shelkov, the ultimate beneficial owner of Demuryne Mining and Processing Plant LLC, as provided for in paragraph 1-1 of Part 1 of Article 4 of the law on sanctions, and recovered an apartment, 100% of the share in the authorized capital of VSMPO Titan Ukraine LLC and the property of this enterprise - real estate, cars, and cash - for the state's revenue.

The BES detectives established that the company's officials, in collusion with officials of offshore companies, sold titanium raw materials to a European company at a deliberately low price in 2021.

Source: EN.LB.UA