DTEK Has No Assets In Russia

The DTEK energy holding has no assets in Russia.

This was announced by the Director General of DTEK Maksym Tymchenko in an interview with the Economic Pravda publication, Ukrainian News Agency reports.

"At the moment we no longer have assets in Russia and no relations with Russia. If we talk about Russian mines, then we had a large debt on the balance sheet of these enterprises. Since these mines were pledged by Sberbank, the shares of these mines were written off against this debt," he said.

According to Tymchenko, this process was provided for in the documents, since the company had a default on payments.

According to him, the share of the group's assets in Russia was negligible compared to its assets in Europe, the United States and Ukraine.

As Ukrainian News Agency earlier reported, the debt of the DTEK energy holding is more than USD 2.8 billion.

On February 21, DTEK Energy completed the restructuring of a USD 100 million guarantee to Sberbank of Russia, issuing a new guarantee for a maximum total amount of USD 100 million.

DTEK manages the energy assets of System Capital Management.

100% of SCM shares belong to businessman Rinat Akhmetov.