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Ukraine’s Anti-Corruption Court nationalises Ukrainian oil assets of Russian oligarch worth half a billion


The High Anti-Corruption Court of Ukraine (NACU) has satisfied the Ministry of Justice’s lawsuit for the nationalisation of Ukrainian assets belonging to the sanctioned Russian oligarch Eduard Khudainatov.

Source: Ukraine’s Security Service

“Ukraine shall seize 100% of his stake in the statutory capital of LLC Naftova Kompaniia Alliance-Ukraine, valued at nearly half a billion hryvnias,” the statement reads.

The investigation found that Khudainatov controlled the Ukrainian oil trader through a series of offshore companies and affiliated individuals, attempting to avoid the nationalisation of this asset after the full-scale invasion by the Russian Federation while continuing to reap substantial profits from Ukraine’s oil and gas market.

However, SSU employees identified the true beneficial owner.

The investigation also indicates that Khudainatov is a trusted associate of Russian President Vladimir Putin, heading the Russian NNK-Group oil and gas company and serving on the board of directors of Rosneft. These two entities are among the largest sponsors of the war against Ukraine, regularly supplying fuel and lubricants to Russia’s military-industrial complex and military units.

Both companies submit billions of roubles to the Russian budget every month.

As part of the criminal proceedings initiated under Article 110-2.4 of the Criminal Code of Ukraine (financing actions aimed at forcibly changing or overthrowing the constitutional order, or seizing state power, altering the borders or state border of Ukraine), an investigation is ongoing to hold Khudainatov accountable for crimes against Ukraine.

Background: The NACU denied the Ministry of Justice to recover 49% of the income of the Alliance Holding LLC, which manages the Shell gas station network in Ukraine, to the state.

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