Business news from Ukraine

Business news from Ukraine

Supreme Court of Ukraine denied Petro Poroshenko’s request to lift NSDC sanctions

The Administrative Court of Cassation, a division of the Supreme Court, denied the petition filed by People’s Deputy and fifth President of Ukraine Petro Poroshenko to lift the sanctions imposed by a decision of the National Security and Defense Council.

The panel of judges announced this decision on Friday.

As previously reported, on February 13, 2025, Ukrainian President Volodymyr Zelenskyy signed a decree on the NSDC’s February 12 resolution “On the Application of Personal Special Economic and Other Restrictive Measures (Sanctions).” According to the annex to the document, sanctions were imposed against five individuals: Poroshenko, Igor

Kolomoyskyi, former owner of Finance and Credit Bank Konstantin Zhevago, former co-owner of PrivatBank Gennadiy Bogolyubov, and former lawmaker Viktor Medvedchuk.

Poroshenko appealed the sanctions to the Supreme Court. On April 17, the court began hearing the lawsuit in the presence of Ukrainian members of parliament, as well as diplomats from the European Union delegation and representatives of the embassies of Germany, Poland, Austria, Sweden, Lithuania, and Denmark. Poroshenko’s representatives emphasize that the sanctions were imposed unlawfully against a Ukrainian citizen residing in the country, while only Russia considers him a “terrorist.” Consequently, there are no legal grounds for the sanctions.

On May 19, it was reported that the European Court of Human Rights (ECHR) had accepted Poroshenko’s case for consideration. According to the politician’s defense attorney, Ilya Novikov, the lawyers filed two additional complaints: the first challenging the sanctions, and the second alleging a violation of the reasonable time limit for proceedings.

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National Security and Defense Council imposed sanctions against individuals and legal entities of Russian Federation

President of Ukraine Volodymyr Zelensky signed a decree enacting the decision of the National Security and Defense Council to impose sanctions against 95 individuals and 70 legal entities, most of whom are citizens and residents of the Russian Federation.

The relevant decree of the President of Ukraine No. 8/2026 of January 3, 2026, was published on the website of the Office of the President.

It is noted that the individuals and companies against whom sanctions have been imposed are associated with servicing Russia’s state defense orders and the activities of its defense-industrial complex. Among them are enterprises and their managers who manufacture and supply products in the fields of communications, electronic warfare, and microelectronics for the Russian defense-industrial complex and security forces.

Sanctions have been imposed on industrial enterprises in the chemical, mining, metallurgical, and fuel and energy sectors of the Russian Federation.

“The restrictions imposed should complicate the servicing of the Russian military-industrial complex and limit its capabilities in the production of weapons and military equipment used in the war against Ukraine. Our country will continue to work with partners to synchronize Ukrainian sanctions in the jurisdictions of partner countries. Some of the items will be included in the 20th package of EU sanctions, which is currently being prepared,” the statement said.

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NSDC also imposes sanctions against Kolomoisky, Zhevago, Boholyubov

The National Security and Defense Council of Ukraine has decided to impose sanctions against a number of Ukrainian businessmen and politicians, Ukrayinska Pravda reports, citing sources in the NSDC.

“At a meeting on February 12, the National Security and Defense Council imposed sanctions against businessman Ihor Kolomoisky, billionaire Kostyantyn Zhevago, former co-owner of Privatbank Hennadiy Boholyubov, the 5th President of Ukraine, MP of the European Solidarity Party Petro Poroshenko, and former MP from the banned OPFL, accused of treason, Viktor Medvedchuk,” the report said.

The publication emphasized that several other representatives of the National Security and Defense Council confirmed this information. As reported, the European Solidarity party announced the sanctions against Poroshenko at a meeting of the National Security and Defense Council. There is currently no official information on the results of the NSDC meeting.

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NSDC imposes sanctions against Poroshenko

At a meeting of the National Security and Defense Council (NSDC) on Wednesday, sanctions were imposed against MP and opposition leader Petro Poroshenko, the European Solidarity party said in a statement.

“The National Security and Defense Council has just made an unconstitutional, politically motivated decision to impose sanctions against me, Petro Poroshenko, as the leader of the opposition and the fifth president, with absolutely illegal restrictions. This crime has many accomplices: Zelenskyy’s entire team, the Cabinet of Ministers, which was ‘bent’ to the absurd request, and members of his National Security and Defense Council, who quietly raised their hands,” Poroshenko said in a video address.

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184 companies in Ukraine under NSDC sanctions

More than 15% of sanctioned companies will be under restrictions for life

184 companies in Ukraine are currently under NSDC sanctions, according to the National Security and Defense Council of Ukraine. Most of these businesses are located in Kyiv, Odesa, and Lviv. Most often, these companies are engaged in wholesale trade, except for the trade in motor vehicles and motorcycles.

Most of the companies appeared on the sanctions list after a series of updates in 2024. So this year, the number of such businesses has almost tripled: by 119 companies. By contrast, the fewest companies were added to the sanctions list in 2023 – only 10 (5.4%).

Every second company in the total number will be under sanctions until 2027. Another 19.4%, or 36 businesses, will be released from the restrictions no earlier than 2034. The sanctions are in place for an indefinite period of time, with 15.1% or 28 companies.

The majority of these businesses are wholesale trade, except for trade in motor vehicles and motorcycles – 61 companies (33.2%). Another 10.3% are engaged in specialized construction work – 19 companies.

Film production and construction of buildings are in the top three, with 7 companies or 3.8% each.

Most businesses under sanctions are located in Kyiv – 102 in total. There are significantly fewer companies in Odesa region – 17 or 9.2%. Lviv region is also among the leaders in terms of the number of companies – 13 or 7.1%.

Among the sanctioned companies, the top three in terms of revenue in 2023 are as follows:

The sanctions list can only be left if the President of Ukraine signs the relevant decision of the National Security and Defense Council or if the sanctions against the company have expired and have not been renewed. The most profitable businesses that have already left the sanctions list are:

Detailed information about the companies under the NSDC sanctions can be found in the special register of the Openatabot. The relevant information will also be available in the regular company card on our website.

https://opendatabot.ua/analytics/rnbo-companies

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NSDC re-applies sanctions to blocked quarry

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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