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Economy 2019-03-18T04:02:45+02:00
Ukrainian news
Supreme Court Upholds Unlawfulness Of Supply Of 1 Million Tons Of Oil For UAH 7.5 Billion By Ukrnafta - NACB

Supreme Court Upholds Unlawfulness Of Supply Of 1 Million Tons Of Oil For UAH 7.5 Billion By Ukrnafta - NACB

The Supreme Court has confirmed unlawfulness of the supply of about 1 million tons of oil for UAH 7.5 billion by Ukrnafta, the largest Ukrainian oil-producing company, without advance payment.

This follows from a statement posted on the official website of the National Anticorruption Bureau (NACB).

According to the report, in February 2018, one of the companies has addressed the District Administrative Court of Kyiv with an appeal against the Cabinet of Ministers of Ukraine.

"Despite the fact that the company had never procured oil from the PJSC Ukrnafta, it insisted on declaring Cabinet's resolution items that obliged state-run enterprises to supply oil only under terms of prepayment unlawful. Violation of the said item was the reason why the National Anticorruption Bureau (NACB) detectives opened a criminal case in 2016. In the same month, the District Administrative Court of Kyiv and later in June the Appeal Administrative Court of Kyiv satisfied the appeal," the statement says.

In July 2018, the Cabinet of Ministers appealed to the Supreme Court against the Appeal Administrative Court of Kyiv's ruling, the NACB joined it.

The Supreme Court has opened a case and ceased fulfilling decisions of the said two courts for the period of consideration of the appeal received from the Cabinet of Ministers.

As Ukrainian News Agency earlier reported, in August 2018, the Supreme Court upheld the ruling of the Kyiv Appeal Economic Court that satisfied the appeal of the NACB against Ukrnafta and the Kotlas LLC and voided 60 purchase and sale agreements worth UAH 2.94 billion.

The NACB's appeal based on materials of the criminal case investigated by detectives of the NACB since August 2016.

The 50%+1 share in the Ukrnafta belongs to Naftogaz of Ukraine national joint-stock company and two 13.6-percent stakes to each Littop Enterprises Limited and Bridgemont Ventures Limited, 12.9% to Bordo Management Limited; the 9.9% — to other companies.

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