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Main Business — The government has approved the forced expropriation of the Odessa Oil Refinery in favor of the state

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The government has approved the forced expropriation of the Odessa Oil Refinery in favor of the state

10 Jun, 2024
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The government has approved the forced expropriation of the Odessa Oil Refinery in favor of the state

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The Cabinet of Ministers has approved the forced expropriation of the Odessa Oil Refinery in the interests of the state, which belonged to Serhiy Kurchenko. This was announced by the Deputy Chairman of the National Assets Recovery and Management Agency (ARMA), Pavlo Velykorechanin.

"Today, the Cabinet of Ministers of Ukraine has approved the proposal of the National Agency regarding the forced expropriation in the interests of the state of PJSC 'Odessa Oil Refinery,'" Velykorechanin said. According to him, this decision allows for the forced seizure of the property rights of the Russian Federation and its residents concerning corporate rights in the amount of 99.5766% of the shares of this plant and its debt obligations to residents of the Russian Federation, as well as 100% of the charter capital of LLC 'Enerhiia i Haz Ukraina.'

At the instruction of the President of Ukraine, the government and ARMA have developed a roadmap for the further development and use of the capacities of the seized plant, which belonged to a pro-Russian businessman before being placed under arrest.

As reported, in 2021, the Kyiv District Court of Odessa ruled to transfer the property complex of PJSC Odessa Oil Refinery'and LLC Enerhiia i Haz Ukraina to the management of the Agency for Detection, Search, and Management of Assets (ARMA).

 

An oil refinery caught fire following a missile attack near the port city of Odessa, amid the ongoing Russia's invasion, in Ukraine, April 3, 2022. REUTERS

 

The Odessa Journal

The Odessa Journal

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