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Ukraine is nationalizing six enterprises that are part of Russia’s defense industry

Ukraine initiates the nationalization of six enterprises within Russia’s defense sector, seeking to seize assets owned by a Russian corporation co-managing the companies.
byOlena Mukhina
23/05/2024
2 minute read
The Prosecutor General’s Office. Photo: GPU
Ukraine is nationalizing six enterprises that are part of Russia’s defense industry

The Prosecutor General’s Office says Ukraine has filed a lawsuit to nationalize six enterprises of the “Polyplastik Group” corporation, which is co-owned by Russian individuals who supply polymers to Russian military-industrial companies.

The Ministry of Justice of Ukraine has filed a lawsuit with the Higher Anti-Corruption Court to apply sanctions against the Russian corporation’s co-owners and confiscate assets. This includes six Ukrainian enterprises, including two pipe factories.

The Prosecutor General’s Office stated that the Russian corporation is a large industrial conglomerate specializing in the production of high-tech polymer pipes and composite polymer materials with a wide range of applications.

“The owners of this corporation support the aggressive policy of the aggressor state. They provide material and technical support to the occupation administrations in Crimea and participate in the development of composite materials to improve the design of small arms supplied to the Russian Defense Ministry. They also supply polymers to enterprises of the Russian military-industrial complex,” the Prosecutor General’s Office emphasized.

Currently, Security Service investigators are conducting a pre-trial investigation into whether those companies financed actions aimed at forcibly changing Ukraine’s constitutional order.

Earlier, the Higher Anti-Corruption Court voted in favor of the Ministry of Justice’s lawsuit for the transfer of assets of the sanctioned Russian corporation “Rostec” to Ukraine’s revenue. It involves two passenger aircraft of the AN148-100E type worth 10 million euros, as per Ukraine’s Security Service.

The investigation found that the aircraft were on the balance of an offshore company within the structure of “Rostec” through the Russian-controlled JSC “Ilyushin Finance Co.” According to available data, the Russian corporation is the largest producer of armaments for the Russian forces fighting against Ukraine.

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