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Ukraine seizes stakes in strategic companies under wartime laws


Ukraine lawmaker says stakes in top engine maker, energy company nationalised By Reuters

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Economy 1 hour ago (Nov 07, 2022 12:44)

© Reuters. FILE PHOTO: A Ukrainian national flag flies over the parliament building (Verkhovna Rada), in Kyiv, Ukraine, November 26, 2018. REUTERS/Gleb Garanich/File Photo

KYIV (Reuters) -A senior lawmaker said on Monday Ukraine had nationalised privately held stakes in five strategic corporations linked to several businessmen, including a top engine maker and an energy company, for wartime state needs.

The move by the National Commission for Securities and the Stock Market was taken on the grounds of martial law, said Yaroslav Zheleznyak, the first deputy chairman of parliament’s finance, tax and customs policy committee.

He published the text of what he said was a document by the commission, which indicated the companies included engine maker Motor Sich, energy companies Ukrnafta and Ukrtatnafta, vehicle maker AvtoKrAZ and transformer maker Zaporizhtransformator.

The authenticity of the document could not immediately be confirmed. The commission said it was not ready to comment.

Three of the companies could not immediately be reached for comment. The two others declined comment.

The companies are partially owned by the state and have links to prominent businessmen Ihor Kolomoisky, Vyacheslav Bohuslaev or Kostiantyn Zhevago.

The nationalisation move was reported separately by media outlet Ekonomichna Pravda, citing a source, and Interfax Ukraine news agency which said it had obtained a copy of the document.

The document posted by Zheleznyak said the nationalised stakes — the size of which were not specified — would be managed by the Defence Ministry.

Zheleznyak said the businessmen would be compensated within a year of the end of martial law. Martial law was introduced in February when Russia invaded Ukraine.

Ukraine lawmaker says stakes in top engine maker, energy company nationalised

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