Smart Holding, a large Ukrainian investment and industrial group and international investor, announced a change of owner, which until recently was former MP Vadym Novinsky, as a result of the completion of another round of the current restructuring.
“As part of the restructuring, Smart Holding founder Vadim Novinsky decided to transfer the assets to a trust. The relevant Smart Trust and Step Trust agreements were concluded in November 2022 and registered with the Cyprus Securities and Exchange Commission,” the group said on its website on Monday.
According to it, the trustees were highly qualified fiduciary administrators appointed in accordance with the licensing conditions of Cyprus law.
“Accordingly, the fiduciaries (trusts) fully own, control and manage the Group’s assets… According to the foregoing, as of the current date, Vadim Novinsky has no beneficial interest in the Group and exercises no control over the Group’s activities or processes,” the information notes.
According to it, Novinskiy, who has not participated in the management of Smart Holding since 2013, decided to concentrate his activity on private interests.
As reported, the President of Ukraine Vladimir Zelensky decree of December 1, 2022 introduced the decision of the National Security and Defense Council “On certain aspects of the activities of religious organizations in Ukraine and the application of personal special economic and other restrictive measures (sanctions)”, which sanctions were also applied to Novinsky.
The sanctions package includes 12 types of imposed restrictions, in particular, full blocking of assets, a ban on trade operations, deprivation of all state awards and insignia, a ban on taking capital out of Ukraine, etc.
In a statement, Smart Holding stresses that it continues to work as usual, it is led by a professional management team, conducting business in conditions of economic and civil crisis caused by the war with Russia.
The information indicates that representatives of the trust, as the beneficial owner, together with Smart Holding management are finalizing a new corporate governance structure and management structure for Smart Holding in accordance with best international practices, and are in the process of selecting new board members.
“Smart Holding has a mission to support the Ukrainian economy to withstand the devastation of war. The group will be actively involved in the post-war reconstruction of the country. We also have ambitious investment goals as part of our international development strategy. We believe that with the accumulated talent and experience in the management team, the company will renew its assets and become stronger”, – Smart Holding CEO Yulia Kiryanova was quoted in the report.
Smart Holding is one of the largest investment groups in Ukraine and one of its main assets is a 23.76% stake in the mining and metallurgical holding Metinvest. Group companies also invest in other assets of mining, metallurgy, oil and gas, agriculture, shipbuilding, real estate and energy sectors. The holding’s strategy is aimed at effective management of a diversified portfolio of investments in order to increase its value in the long term, according to its website.
Ukrainian President Vladimir Zelensky on Sunday signed a decree enacting a decision of the National Security and Defense Council of Ukraine to impose personal sanctions against 198 Russian propagandists and talk show participants on Russian channels, as well as other figures in the Russian media sphere.
The corresponding document #23/2023 was published on the website of the head of state.
“To enact the decision of the National Security and Defense Council of Ukraine dated January 15, 2023 “On the application and amendment of personal special economic and other restrictive measures (sanctions),” the decree reads.
The decision of the National Security and Defense Council is attached to the decree. It contains a list of 198 people of Russian culture and the media sphere, against whom personal sanctions are imposed.
The list includes, among others, Russian blogger, translator and publicist Dmitry Puchkov (Goblin), politician Sergei Stankevich, general producer of Russian propaganda television channel “Zvezda,” Boris Yanovsky, TV presenter Yana Rudkovskaya, actor and TV presenter Boris Korchevnikov, Russian music critic and journalist Sergei Sosedov, sociologist Yevgeny Kopatko, political scientist Rostislav Ishchenko, Rodion Miroshnik, publicist and propagandist Vladimir Kornilov, sports journalist Dmitry Guberniev, film director Andrei Konchalovsky, and other propagandists from Russian central TV channels, as well as so-called Russian “war correspondents.
Diana Panchenko, a former Ukrainian TV anchorwoman who now shoots propaganda clips for Russian television in the temporarily occupied territories of Ukraine, was also put on the list.
A full package of personal sanctions for a period of 10 years is being imposed against those on the list.
“This decree shall enter into force on the day of its publication,” the document signed by the president reads.
Switzerland followed the EU in imposing new sanctions against Russia, with 141 individuals and 49 legal entities added to the “black lists,” the Swiss government said in a statement.
“Switzerland, by amending the sanctions lists on December 21, thus joined the EU measures,” the press release said.
“Switzerland is amending the sanctions regime as part of the measures that the EU adopted in connection with the supply of Iranian drones to Russia and the continuing alarming situation in Ukraine,” the document specified.
The sanctions will take effect at 6 p.m. local time.
According to the statement, on December 16, the EU also imposed a ban on exports to Russia of a number of other categories of goods and services, and the Swiss government, in turn, will study these measures.
On December 16, the EU Council approved the ninth package of sanctions against Russia, which includes restrictions against the mining and energy sectors and a ban on exports of space industry goods and drones.
Among other things, the EU also added 168 more entities related to the defense industry of Russia to its “black lists. In addition, the ninth EU sanctions package against Russia included 144 individuals, including high-ranking Russian officials, MPs, military personnel and artists from Russia.
The ninth package of European Union sanctions on Russia for the war it is waging against Ukraine will be approved in writing on Friday.
The Czech Presidency announced this on its Twitter page.
“Ambassadors agreed in principle on a sanctions package against Russia as part of the EU’s ongoing support for Ukraine. The third Russia sanctions package negotiated under the Czech Presidency of the Council of the European Union should be confirmed via written procedure tomorrow,” it said.
In accordance with the practice of the EU, initially the decisions that must be further approved by the leaders of the EU are agreed upon at the level of ambassadors of the EU member states. So in this case, before the leaders approved the ninth package of sanctions for Russia, they were agreed upon by the ambassadors, whose Committee meetings were held almost simultaneously with the meeting of the European Council.
The European Commission on Wednesday proposed to introduce another – ninth – package of sanctions against Russia, which should include a ban on transactions with three Russian banks and other measures.
According to a statement from EC Chairwoman Ursula von der Leyen, the EU executive body proposes as part of the new package of measures to include about 200 more individuals in the sanctions lists, to introduce a ban on transactions with three Russian banks, including the All-Russian Bank of Regions Development, as well as the broadcasting of four Russian media channels.
Von der Leyen’s proposals also include a ban on the export of unmanned aerial vehicles to Russia. In addition, the EC wants to impose new export restrictions, in particular on dual-use goods – “key chemicals, neuroparalytic substances, electronics and IT components.
Switzerland on Wednesday approved the eighth package of sanctions against Russia, which includes the introduction of a “ceiling” on Russian oil prices.
“The Swiss Federal Council adopted another set of sanctions against Russia on November 23. The council approved the measures adopted by the European Union as part of the eighth sanctions package,” the document published on the Federal Council’s website reads.
“The sanctions include a legal basis for imposing a ‘ceiling’ on prices of Russian oil and oil products, as well as restrictions on iron and steel goods, aerospace products and goods of economic importance to Russia,” the statement stressed.
It is specified that the sanctions will take effect at 18:00 Wednesday local time (19:00 KSC).
The new measures also include a ban on the provision of IT, engineering, architectural and legal services to the Russian authorities and companies. In addition, a ban is introduced for citizens of Switzerland to occupy managerial positions in some companies owned by Russia.
The document notes that on October 12, the Swiss authorities added 30 more individuals and entities to the sanctions list for Russia.
The EU adopted the eighth package of sanctions with similar measures on October 6 in response to Russia’s escalation of military aggression against Ukraine.
