Russian oligarch to be tried for supplying US$2 million worth of Ukrainian military products to Russia
Pravda Ukraine
The Bureau of Economic Security has sent to court an indictment against sanctioned Russian oligarch Mikhail Shelkov, who, together with his accomplices, secretly supplied almost UAH 90 million (about US$2.1 million) worth of Ukrainian titanium products to Russia.
Source: Economic Security Bureau of Ukraine
Details: The titanium concentrates were supplied to a company registered in Austria, although they were actually transported immediately to Russian companies. Moreover, the products were exported at reduced prices.
These companies are involved in the manufacture of weapons for the needs of the Russian forces and in the creation of strategic reserves.
The Ukrainian plant from which the products were sold to Russia is owned by the state.
Background:
- Russian oligarch Shelkov has owned the mining and processing plant since 2012. The company is one of the world’s largest titanium producers and was part of the Russian state corporation Rostec.
- In July 2024, the Economic Security Bureau of Ukraine found that Shelkov had created a criminal organised group. The group included the former director of Demurinskyi Mining and Processing Plant, a beneficiary and director of an Austrian company. Shelkov and one of the plant’s top managers were notified of suspicion.
- In the autumn of 2024, the High Anti-Corruption Court of Ukraine partially upheld the Ministry of Justice’s claim to impose sanctions on Shelkov, seizing some of his assets.
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