Business news from Ukraine

Zelenskyy imposes sanctions against Ukraine’s largest mineral water producer IDS

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.

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Canada expands sanctions lists against entities and individuals

On Thursday, July 20, a new package of anti-Russian sanctions came into force, targeting entities and individuals associated with the Russian military-industrial complex, as well as cultural figures who have voiced support for Russian aggression against Ukraine, according to the press service of the Canadian government.

“Canada imposes sanctions against 21 organizations associated with the Russian military-industrial complex, including financial and telecommunications companies,” the statement said.

The list included such companies as MTS, Megafon, Tele2, Tinkoff Bank, Yandex Pay, Beeline, the payment system “Mir” and others.

In addition, sanctions were imposed against 20 individuals associated with the Russian military-industrial complex, including important military figures who were active in Africa and Ukraine, and individuals associated with the Russian nuclear sector.

Separately, a sanctions list was released, including 19 individuals who use their art (music, acting, film) to propagandize the Russian invasion of Ukraine, as well as individuals from Russia’s cultural and educational sector, including museum directors, who are involved in the damage or total destruction of cultural property. in Ukraine.

They included Ivan Okhlobystin, Nikita Mikhalkov, Phillip Kirkorov, Iosif Prigozhin and others.

In addition, Canada imposed sanctions against four organizations involved in the Kremlin’s efforts to “Russify” Ukrainian culture. This number included the Ministry of Culture of the Russian Federation, the Ministry of Science and Higher Education of the Russian Federation, Besogon LLC and Readovka.ru LLC.

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Rafael Goroyan, head of Prometey, supports sanctions against Iran

Rafael Goroyan, the owner and the head of the Prometey Group of Companies, a big Ukrainian grain trader, positively evaluated the initiative of the President of Ukraine to impose sanctions against Iran for 50 years.
The resolution, which was voted for yesterday by people’s deputies, envisages, in particular, a complete ban on trade operations.
“I welcome this decision of the state authorities of Ukraine. Today our country is one of the main suppliers of agricultural products to the Islamic Republic of Iran.
I believe that the ban on trade will significantly affect the food security of Iran, the government of the country is likely to face starvation among the population.
The Islamic Republic will be left with one supplier of grain – the Russian Federation, on which it will be completely dependent. This means that the supplier will be able to dictate prices, which will certainly hit Iran’s economy,” Rafael Goroyan is sure.

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Ukrainian President introduces draft law on sanctions against Iran to Rada

Ukrainian President Volodymyr Zelensky has submitted a draft law on the application of sectoral special economic and other restrictive measures (sanctions) to the Islamic Republic of Iran to the Verkhovna Rada on May 27, 2023.
The card of the project number 9333 appeared on the website of the Parliament.
“In accordance with Article 93 of the Constitution of Ukraine and part two of Article 5 of the Law of Ukraine “On Sanctions” I am submitting for consideration of the Verkhovna Rada of Ukraine a draft resolution of the Verkhovna Rada of Ukraine “On Approval of the decision of the National Security and Defense Council of Ukraine dated May 27, 2023 “On the application of sectoral special economic and other restrictive measures (sanctions) to the Islamic Republic of Iran”, – said in the text of the document.
According to the addendum to the draft, it is proposed to apply sanctions against Iran for 50 years. The restrictive measures include a complete ban on trade with Iran, stopping the transit of resources, flights and shipments by Iran through Ukraine as well as preventing Iranian residents from taking capital out of Ukraine.
In addition, it is proposed to prohibit the transfer of technology and intellectual property rights to residents of Iran and to prohibit investments in the Islamic Republic of Iran.

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President Zelensky imposed sanctions against several other well-known politicians and businessmen

Ukrainian President Vladimir Zelensky has imposed sanctions against the daughter of former Defense Minister Lebedev, head of the Frunze NGO Volodymyr Lukyanenko and his son, former MP Andriy Derkach, and the nominal owners of the VS Energy energy company. This is stated in a presidential decree published Friday evening.

In addition, sanctions have been imposed against the son of prominent Russian businessman Vadim Giner, Olga and Irina Babakov

“Another sanctions package to date. With his decree, he imposed restrictive measures on the property of Russian companies in Ukraine and the property of related Ukrainian economic entities,” Ukrainian President Vladimir Zelensky wrote in his Telegram channel on Friday.

“Even critical infrastructure facilities and key strategic enterprises were sometimes under their control. Today we are overcoming these risks. The sanctions are also imposed on companies associated with Medvedchuk and other subsanctioned individuals, the founders, managers, beneficiaries of pro-Russian companies with significant assets in Ukraine,” the president said.

Ukrainian President Vladimir Zelensky has imposed sanctions against the daughter of former Defense Minister Lebedev, the head of the Frunze NGO Volodymyr Lukyanenko and his son, former MP Andriy Derkach, and the nominal owners of the VS Energy energy company. This is stated in a presidential decree published Friday evening.

In addition, sanctions have been imposed against the son of prominent Russian businessman Vadim Giner, Olga and Irina Babakov

“Another sanctions package to date. With his decree, he imposed restrictive measures on the property of Russian companies in Ukraine and the property of related Ukrainian economic entities,” Ukrainian President Vladimir Zelensky wrote in his Telegram channel on Friday.

“Even critical infrastructure facilities and key strategic enterprises were sometimes under their control. Today we are overcoming these risks. The sanctions are also imposed on companies associated with Medvedchuk and other subsanctioned persons, the founders, managers, beneficiaries of pro-Russian companies with significant assets in Ukraine,” the president said.

Source: Decree of the President of Ukraine No. 279/2023 – Official web representation of the President of Ukraine (president.gov.ua)

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President of Ukraine Signs Decree on Sanctions against Zaporizhstal

Ukrainian President Vladimir Zelensky has signed decrees on several sanctions packages, including Zaporizhstal.

“Today is sanctions day. There are several sanctions packages, the relevant decrees have been signed. The first sanctions package is in relation to Zaporizhstal. With his decree imposed restrictive measures on 41 persons – 13 individuals and 28 legal entities – with which the Russian Federation maintained control over the enterprise, harmed our economy,” he wrote in the telegram channel.

“We start the procedure for the confiscation of the Russian part – it will work for Ukraine and Ukrainians,” Zelensky added.