Court allows national analysis of assets of sanctioned Russian oligarch Shelkov worth USD 29 million

The High Anti-Corruption Court has upheld the claim of the Ministry of Justice against sanctioned Russian oligarch Mikhail Shelkov. The court has recovered the claims of the companies controlled by the oligarch as state revenue.

This was reported by the Office of the Prosecutor General, according to UNN.

Details

The High Anti-Corruption Court upheld the claim of the Ministry of Justice of Ukraine based on the materials of the Prosecutor General’s Office against a sanctioned Russian oligarch. The right of claim, which belonged to the non-resident companies controlled by him under a financial loan agreement, was recovered for the state. Under this agreement, Demurinsky Mining and Processing Plant LLC owed USD 29 million. Thus, the funds that the plant was supposed to pay to the Russian oligarch will remain in Ukraine

According to UNN sources, it is Russian oligarch Mikhail Shelkov. The prosecutor’s office noted that the mining and processing plant in the Dnipro region had been owned by the Russian oligarch since 2012, and for decades it had been providing raw materials to the Russian Metallurgical Corporation, which is the world’s largest titanium producer and the executor of 40% of the aggressor state’s defense orders.

Recall

In July last year, law enforcement officers served a notice of suspicion to a sanctioned Russian oligarch , Mikhail Shelkov, for organizing the supply of strategic products to companiesinvolved in the manufacture of weapons for the needs of the Russian Ministry of Defense.