By KYIV. Dec 13 (Interfax-Ukraine) – The personal sanctions against Vadim Novinsky imposed by the president of Ukraine are not aimed at Enwell Energy plc, an associated company with assets in Ukraine, which continues its normal operations, the company said on the London Stock Exchange (LSE).
"The company is investigating this situation, and consulting with its legal and other advisers, but the company’s legal analysis is that the restrictive measures imposed are directed at the named individuals (and not any other legal entities) and are applicable solely within Ukraine," it said.
"The restrictive measures are therefore not directed at the company, which continues its normal operations. The company will continue to monitor the situation and consult with its external legal advisers as to whether the decree could affect the company," the report says.
Since the announcement on December 2 of sanctions against 10 defendants who are representatives of the Ukrainian Orthodox Church (Moscow Patriarchy) or are closely associated with this organization, including Novinsky, the Enwell Energy stock price on the AIM LSE has fallen by 33.9% – to 17.05 pence. In particular, this Monday, it fell by 21.1%, although at some points it fell to 16 pence.
As reported, the British oil and gas company Enwell Energy plc, which is part of Novinsky’s Smart Energy Group, in the third quarter of 2022 reduced the total average daily production of hydrocarbons by 49.5% compared to the same period in 2021, to 2,588 barrels of oil equivalent per day (boepd).
