By KYIV. Dec 26 (Interfax-Ukraine) – The High Anti-Corruption Court (HACC) on Monday began considering a case filed by the Ministry of Justice for the confiscation of Ukrainian assets of the main beneficiary and member of the board of directors of the Russian PJSC VSMPO-Avisma Corporation, the world’s largest titanium producer, Mikhail Shelkov.
As reported on the website of the Judicial Power of Ukraine portal, as third parties, in addition to the Corporation itself, Ukrainian Demurinsky Mining and Processing Plant LLC and Investagro established by it, VSMPO Titan Ukraine, Investagro LLC, Tai -Minerals LLC and its co-owner Cyprus-based Limpieza Limited are declared.
Shelkov, ranked 59th in the Forbes rating of Russian oligarchs with a fortune of about $1.5 billion, was included in the Ukrainian sanctions list back in 2021, and in October of this year, the sanctions were expanded to include Limpieza Limited.
In addition, on June 8, 2022, the Kyiv District Court, as part of criminal proceedings, the pretrial investigation of which is being carried out by detectives from the Bureau of Economic Security (BES) of Ukraine, repeatedly seized 100% of the corporate rights of Demurinsky Mining, which supplies titanium raw materials.
BES claimed that this enterprise during 2020-2021 carried out illegal export of mined titanium-containing raw materials to sub-sanctioned territories through an Austrian company, underestimating the cost of products sold.
The revenue of Demurinsky Mining in January-September 2021 was UAH 348.04 million, VSMPO Titan Ukraine – UAH 324.65 million, Investagro – UAH 25.99 million, and TAI-Minerals for 2020 – UAH 13.77 million.
As reported, after the change in legislation on September 1 this year, the HACC fully satisfied the claims of the Ministry of Justice and made the first decision in history to recover the assets of a Russian citizen, Vladimir Yevtushenkov, who was sanctioned by a decree of the President of Ukraine.
