Cyprus-based International Distribution Systems Limited, the owner of Ukraine’s largest mineral water producer IDS Ukraine, has been subject to Ukrainian sanctions: asset freezes, prevention of capital outflows abroad, and a ban on increasing the authorized capital of related Ukrainian companies.
President Volodymyr Zelenskyy’s Decree No. 739 of November 7 on the implementation of the sanctions adopted by the National Security and Defense Council on the same day was published on the President’s website.
The decree imposes similar sanctions on eight more companies: four – Sogeral Foundation, Haberfield Limited, Slavisilla Holdings Limited, and Dendar Investment Fund Limited (all based in Cyprus) – for a period of 10 years, while IDS Limited and four others are subject to two-year sanctions.
The latter also include Alfa Finance Holdings Limited, Erasmony Limited, Rissa Investments Limited and CTF Holdings S.A.
Most of these companies are associated with Mikhail Fridman and other co-owners of the so-called Alfa Group, as evidenced, in particular, by the data disclosed earlier in Russia on the scheme of interaction between the participants of the management company Alfa Capital Management Company LLC, under whose control or significant influence this management company was. The list includes Peter Aven, German Khan, Andrei Kosogov, Alexei Kuzmichev and the former minority shareholder of Sense Bank, The Mark Foundation for Cancer Research. Friedman and his partners were previously included in the Ukrainian sanctions list.
As reported, the Ukrainian legislation adopted during the war allows the High Anti-Corruption Court to seize the assets of sanctioned persons to the state revenue.
