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Ukraine’s Anti-Corruption Court transfers millions-worth mining facilities from Russian oligarch to the state

Ukraine’s Anti-Corruption Court transfers millions-worth mining facilities from Russian oligarch to the state

By the decision of the Ukraine’s Higher Anti-Corruption Court, all assets of Demurinsky Mining and Processing Plant were transferred to the state. Russian oligarch Michail Shelkov lost 100% of shares, movable and immovable property of the enterprise and money in the accounts. In total, the property is worth UAH 2 billion ($50 million).

This is not the first such case. Earlier, Michail Shelkov lost his flat and other enterprises specializing in the mining of titanium in Ukraine.

Shelkov was accused of tax evasion and export of titanium-containing raw materials to enterprises of the Russian Federation and the Republic of Belarus in 2020-2021, Bureau of economic security of Ukraine reported.

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