Business news from Ukraine

Business news from Ukraine

NSDC re-applies sanctions to blocked quarry

25 April , 2024  

In April, the National Security and Defense Council of Ukraine (NSDC) imposed economic restrictions (sanctions) on Pervomaiskyi Specialized Quarry, which holds a special permit No. 4310 for the extraction of granite from the Sofiyivske deposit in Mykolaiv region. NADRA.INFO reports.

The sanctions were imposed for a period of 10 years and include, among other things, the revocation or suspension of special permits for the use of subsoil. The decision of the National Security and Defense Council was put into effect by the Decree of the President of Ukraine Volodymyr Zelenskyy No. 219/1014 of 04.04.2024 (source). The sanctions were also imposed on SPMK-17 LLC, which owns 91.87% of Pervomaisky Specialized Quarry ALC (YouControl).

– The area of the Sofiyivske field is 39.2 hectares. Reserves (cat. A+B+C1) are more than 27 million cubic meters of granite (according to the Public Audit of Subsoil Use as of the fall of 2021).

NADRA.INFO wrote that in April 2021, the National Security and Defense Council imposed sanctions on Pervomaiskyi Specialized Quarry ALC for a period of three years. After that, the State Service of Geology and Subsoil of Ukraine suspended the special permit. Following this year’s decision on sanctions, the State Service of Geology and Subsoil updated the grounds for the suspension (download the order, annex).

– Pervomaiskyi Specialized Quarry ALC was founded in July 1995. The authorized capital is UAH 2 million. Registered in the village of. Migiya, Pervomaiskyi district, Mykolaiv region. The ultimate beneficial owner: Amirkhanyan Seda. Director: Volodymyr Baida.

As a reminder, in 2023-2024. The State Service of Geology and Subsoil of Ukraine suspended a number of mining and prospecting special permits for the use of subsoil to Ukrainian companies on the grounds that the business owners had previously been sanctioned by the National Security and Defense Council. For an overview of the consequences, please follow the link.

The European Business Association proposes to revise the sanctions policy in the field of subsoil use.

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