30 August 2017, Wednesday, 16:02 216

SBU Notifies RusAl Co-Owner Deripaska Of Being Suspected Of Deliberately Destroying ZAlK In Interests Of Russian Competitors

Редактор: Daria Zubkova

The Security Service of Ukraine (SBU) has notified Oleg Deripaska, a co-owner of RusAl Company, of his being suspected of deliberately destroying the sole Ukrainian primary aluminum producer Zaporizhia Aluminum Plant (ZAlK) in the interests of Russian competitors.

A well informed source disclosed this to Ukrainian News Agency.

The press service of the SBU reports that law enforcement agencies have notified nine members of an international criminal group suspected of deliberately destroying the ZAlK in the interests of competitors from Russia.

"The SBU Investigators under the procedural guidance of the Prosecutor's Office notified of suspicion members of the international criminal group suspected of deliberately destroying the Zaporizzhia-based vertically integrated Aluminium production complex (ZALK) in the interests of competitors from Russia," the press service says in its statement.

During the investigation, the SBU officers established that since 2006 ZAlK has been deliberately destroyed in the interests of Russia's metal producers.

Experts estimate the damage caused to the State at over USD 39 million and over UAH 100 million.

The statement reads that one of the suspects is in custody, the former director of ZAlK is under the personal obligation. Three of the suspects are Russian citizens.

According to the source, the SBU has also notified of suspicion the following persons: Vadim Kravchenko, head of the commercial department of the directorate for new projects at RusAl, Alexandra Ristik-Surkunis, a member of the supervisory board of RusAl, ZAlK director Ivan Lischuk, ZAlK representative Stelios, and Volodymyr Sirko, founder of the companies Euromash and Dneproinmet.

As Ukrainian News Agency earlier reported, in March 2017, the SBU served a notice of suspicion to director of the ZAlK. The SBU suspected him of office abuse.

On March 12, 2015, the Supreme Court upheld the decision of the Higher Economic Court on returning to the state 68.01-percent stake in ZALK in view of the latter failing on its obligations to the investor.

Velbay Holdings Limited (Cyprus) in June 2015 reduced its stake in ZALK from 97.5% to 29.5%, and 68.01% was transferred to the State Property Fund.

In June 2015, the State Property Fund established operating management of ZALK.

In February 2001, the State Property Fund sold 423,514,923 (68.01%) ordinary registered shares in ZALK to AvtoVAZ-Invest (Russia) for UAH 380.6 million.

In 2004, SUAL, a Russian industrial group owned by Viktor Vekselberg and Leonard Blavatnik, purchased 95% of the shares of AvtoVAZ-Invest.

In March 2007, the assets of SUAL were united with assets of Russian Aluminum and assets of Glencore (Switzerland) into the RusAl Company.

In February 2008, the Prosecutor General's Office lodged a lawsuit at the Kyiv Economic Court to break the purchase-sale agreement of 2001 between the State Property Fund and AvtoVAZ-Invest regarding 68.01% of shares of ZALK.

The State Property Fund had registered violations of investment obligations by the owner of ZALK.

In Ukraine RusAl controls the Mykolayiv Alumina Refinery, which is Ukraine's sole producer of alumina, which is used in aluminum manufacture.

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