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Ukraine wants to seize property of Russian cruise and ballistic missile manufacturer

Monday, 11 March 2024, 19:16
Ukraine wants to seize property of Russian cruise and ballistic missile manufacturer
Rocket factory in Russia. Stock photo: Getty Images

The Ministry of Justice of Ukraine has asked the High Anti-Corruption Court to seize the property of a Russian company that manufactures Iskander cruise and ballistic missiles and Kinzhal hypersonic ballistic missiles.

Source: press service of the Ministry of Justice of Ukraine

Details: The ministry wants to impose a sanction on the joint-stock company NPO Design Bureau of Mechanical Engineering under the Ukrainian Law On Sanctions, Paragraph 1-1 of Article 4.1, which provides for seizure of assets of individuals and legal entities in favour of the state.

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According to public information, this company is responsible for the development of Iskander and Kinzhal missiles.

Third parties declared as participants:

  • Joint Stock Company NPO High-Precision Systems;
  • State Corporation for Promotion of Development, Production and Export of High-Tech Industrial Products Rostec;
  • Fotoprilad Research and Production Complex Limited Liability Company.

The Ministry of Justice explained that the joint-stock company Research and Production Corporation Design Bureau of Mechanical Engineering is a Russian state-run company that develops and manufactures military equipment, in particular, high-precision tactical missile systems, operational-tactical missile and anti-aircraft missile systems, and anti-tank missile systems commissioned by the Russian Ministry of Defence.

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The Justice Ministry noted that this strengthened the military potential of the Russian Federation, which has engaged the specified military weapons and equipment in conducting armed aggression against Ukraine.

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