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  • 26 arrested Firtash’s regional operators of gas distribution systems bring UAH 0.00 to the budget in more than a year of the management of ARMA - Trap Aggressor
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26 arrested Firtash’s regional operators of gas distribution systems bring UAH 0.00 to the budget in more than a year of the management of ARMA - Trap Aggressor

For the period from July 5, 2022 to August of this year, the amount of revenues to the state budget from the management of 26 regional operators of gas distribution systems amounted to UAH 0.00 for the entire period.

This is reported by the Trap Aggressor project of the StateWatch analytical center with reference to the response of the Asset Recovery and Management Agency (ARMA) to the request of the Temporary Investigative Commission of the Verkhovna Rada on budget filling, Ukrainian News Agency reports.

"The manager of the arrested corporate rights of 26 regional operators of gas distribution systems linked to Dmytro Firtash was determined, by a separate decree of the Cabinet of Ministers, the State Joint Stock Company (JSC) Chornomornaftogaz. At the beginning of July 2022, ARMA concluded an asset management agreement with JSC Chornomornaftogaz, in accordance with to which the main corporate rights for 26 regional gas companies were transferred to the latter, and on April 3, 2023, the corporate rights of minority owners and the re-arrested corporate rights of JSC Ternopilgaz, JSC Korostyshivgaz, JSC Kirovohradgaz, JSC Khmelnytskgaz, JSC Melitopolgaz," the message says.

The Agency specified that in accordance with the terms of the management contract, the amount of income is determined from the accrued and paid dividend payments on assets to the manager (15% of the received dividends, after deducting the amounts of relevant taxes and fees to the manager's account, the balance - to the treasury's account).

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At the same time, ARMA also noted that no general meeting of shareholders regarding the payment of dividends was held as of the beginning of August.

Analysts of Trap Aggressor stress that the lack of public access to the register of ARMA's arrested assets actually makes any independent control over management results impossible.

As Ukrainian News Agency earlier reported, in September 2022, the subsidiary company Gas of Ukraine of the Naftogaz of Ukraine national joint-stock company created the limited liability company Gas Distribution Networks of Ukraine.

It is planned to create a national gas distribution system operator on the basis of the company.

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In May 2022, the Cabinet of Ministers instructed the Asset Recovery and Management Agency to transfer arrested assets of operators of gas distribution networks to the management of Chornomornaftogaz joint-stock company.

Naftogaz plans to integrate these assets into Gas Distribution Networks of Ukraine LLC.

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