Zelenskyy comments on transfer of Motor Sich, Ukrnafta and other companies to state ownership
OLEKSII PAVLYSH – MONDAY, 7 NOVEMBER 2022, 18:35
President Volodymyr Zelenskyy has said that the transfer of certain companies’ assets to the state will help meet the urgent needs of the Ukrainian defence sector. The companies in question are Motor Sich joint-stock company (JSC), Zaporizhtransformator private joint-stock company (PJSC), Kremenchuk Automobile Plant PJSC, Ukrnafta PJSC and Ukrtatnafta PJSC.
Zelenskyy stated this on Telegram.
"Our resistance to the enemy must be as effective and well-coordinated as possible. At a meeting of the Staff of the Supreme Commander-in-Chief, a decision was made to transfer the assets of [the following] strategically important enterprises to state ownership: Motor Sich JSC, Zaporizhtransformator PJSC, Kremenchuk Automobile Plant PJSC, Ukrnafta PJSC and Ukrtatnafta PJSC.
Such steps, which are necessary for our state in times of war, are being taken in accordance with the current laws and will help meet the urgent needs of our defence sector. In these difficult times, we must direct all our efforts to liberate our land and people and support the Ukrainian army," Zelenskyy wrote.
Reminder:
Economichna Pravda sources reported that companies associated with Kostiantyn Zhevago, Ihor Kolomoiskyi, Viacheslav Bohuslaiev and Kostiantyn Hryhoryshyn will become the property of the state.
The National Securities and Stock Market Commission of Ukraine has adopted a decision to ensure the compulsory expropriation of shares in Ukrnafta PJSC, Ukrtatnafta PJSC, Motor Sich JSC, Kremenchuk Automobile Plant PJSC and Zaporizhtransformator PJSC into state ownership. Accordingly, the regulator allowed shares in the specified enterprises to be written off from the accounts of private individuals and pass into state ownership.
The assets of Ukrnafta, Ukrtatnafta, Motor Sich, Kremenchuk Automobile Plant and Zaporizhtransformator have been transferred to the Ministry of Defence.
The five strategic enterprises expropriated by the state – Ukrnafta, Ukrtatnafta, Kremenchuk Automobile Plant, Motor Sich and Zaporizhtransformator – will work to meet the defence needs of the state 24/7.
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