Ukraine seizes more than UAH 2B worth of assets from Russian oligarch’s company

More than 2 billion hryvnias worth of assets of a Russian company engaged in the production of household chemicals were transferred to ARMA, the National Agency tasked with managing assets obtained as a result of corruption and other crimes.

That’s according to the Prosecutor General’s Office, Ukrinform reports.

At the request of the prosecutors, the assets of the said enterprise, located in Vinnytsia region, corporate rights, 100% of the company's authorized capital in the amount of more than UAH 1.5 billion, as well as and products and raw materials worth over UAH 500 million, were transferred to ARMA.

The ultimate beneficiary in the company is one of the high-profile Russian oligarchs from President Vladimir Putin’s close circle, an owner of a Russian cosmetics corporation.

It was established that the management of the Vinnytsia firm tried to hide the products from nationalization amid martial law, acting in the interests of their Russian owners. Having no legal grounds, they sought to take the assets out of Ukraine, illegally exploiting the Red Cross symbols.

Law enforcement pursued a number of raids, seized computer equipment, servers, and documents. The equipment for the production of household chemicals and warehouses where almost 5,000 tonnes of raw materials and finished products were stored have been sealed.