ARMA wants to terminate contract with Ukrnafta on management of Medvedchuk's gas stations

The Asset Recovery and Management Agency (ARMA) has initiated before the Cabinet of Ministers the termination of the contract with the largest oil-producing company Ukrnafta for the management of the seized assets of Glusco that belongs to the godfather of the russian dictator Vladimir Putin, Viktor Medvedchuk, and the assets of the russian company Tatnafta.

This follows from a statement by the ARMA, the Ukrainian News agency reports.

"The main reason for the termination of the contract on the management of Glusco gas stations is the deliberate rejection by the Ukrnafta company of the ARMA's proposals to sign the acts of acceptance and transfer of the assets of the gas station... In the last three months, the agency has sent official letters to Ukrnafta with the demand to sign the acts of acceptance and transfer of gas station property complexes, to which the company alienated from state ownership did not agree. It is also worth noting that the National Agency's request to the State Tax Service received answers confirming the supply of petroleum products to the seized gas stations from both Ukrnafta and other structures in this market," the message says.

According to the report, the ARMA and Ukrnafta could not sign the acts of acceptance and transfer of corporate rights due to the need to obtain a concentration permit from the Antimonopoly Committee (AMCU).

"The agency states that Ukrnafta officials delayed submitting the relevant documents to the AMCU and did so - together with the ARMA - only after numerous meetings. The AMCU, in turn, can review this decision for up to six months. Therefore, a better option than conducting an independent transparent "There is no competition. After the decision of the Government, the ARMA will initiate the selection of a new manager for the Glusco network, who will ensure the proper balance of public and private interests and organize predictable, transparent, and profitable activities of the arrested gas stations," the message reads.

As the Ukrainian News agency earlier reported, in September 2023, Ukrnafta announced that it had signed an agreement with the ARMA on the management of the Glusco gas station network.

In August 2023, the ARMA terminated the contracts with the Naftogaz Oil Trading company for the management of the assets of the Glusco gas station network.

Also, in August 2023, the Cabinet of Ministers transferred the gas station of the russian Tatnafta to the management of Ukrnafta.

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