Russian Investment Group USM to Sue Ukraine Over Asset Seizure
Date
9/28/2024 7:26:28 AM
(MENAFN) Russian investment group USM, which is majority-owned by billionaire businessman Alisher Usmanov, announced it will take legal action after a Ukrainian court ordered the seizure of its assets in the country, RBK reported on Friday, citing the company’s press office.
Earlier this week, Ukrainian Deputy Justice Minister Inna Bogatykh stated in a Facebook post that the High Anti-Corruption Court of Ukraine had ordered the confiscation of 165,000 tons of iron ore worth over USD48 million Dollars currently in Ukrainian ports, and 100 percent of Peter-Service Ukraine, an IT company belonging to USM.
“We will make every effort to ensure that international courts give a proper assessment of the unlawful actions of the executive and judicial authorities of Ukraine,” the USM press office told RBK. The ruling is “a blatant example of illegal and unjustified legalization of appropriation of property belonging to private individuals,” it added.
The company claimed that the assets in the case had previously been illegally blocked and held “in the best pirate traditions for more than two years.”
One of the enterprises owned by Usmanov’s Metalloinvest purchased iron ore in Russia and then exported it to other countries via the territory of Ukraine, USM noted. It added that the authorities in Kiev had detained the shipments “in the absence of any legal grounds” shortly after the escalation of the Ukraine conflict in February 2022, and then seized them “as part of trumped-up criminal cases.”
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