Assets of the Russian Tatneft have been recovered by the state – court decision
28 February 08:49
The Supreme Anti-Corruption Court has upheld the claim of the Ministry of Justice to impose a sanction in the form of a forfeiture of the assets of Tatneft named after V.D. Shashin, one of the largest Russian oil companies in terms of production and refining, to the state. This was reported by the Ministry of Justice, according to "Komersant Ukrainian".
It is reported that based on the decision of the Supreme Anti-Corruption Court, the corporate rights of companies directly owned by Tatneft named after V.D. Shashin will be collected by the Ukrainian state, namely:
– 100% of the share in the authorized capital of TATNEFT-ASC-UKRAINE LLC;
– 92.98 % of the share in the authorized capital of LLC “HARKOV-CAPITAL”;
– 88.97 % of the share in the authorized capital of Poltava-CAPITAL LLC.
These companies own oil depots, gas stations, non-residential buildings, land plots, fuel trucks and cars in Kharkiv and Poltava regions.
The Ministry of Justice reported that the HACC decision may be appealed. The defendants and third parties have five days from the date of publication of the full text of the decision on the court’s website to file an appeal.
What is known about the sanctioned company
PJSC TATNEFT named after V.D. Shashin is one of the largest industrial conglomerates in the field of production, refining and sale of petroleum products in Russia. This strategically important company for the aggressor state consistently pays significant taxes to the Russian budget, which are used to develop and support the military-industrial complex of the Russian Federation.
In particular, one of the group’s key projects is the TANECO refinery complex in Nizhnekamsk (Tatarstan, Russia), which produces approximately 20 types of products, including jet fuel and diesel fuel, which are supplied to the Russian military-industrial complex.
What is known about the assets recovered to the state
In May 2022, the State Bureau of Investigation announced the seizure of property, accounts and corporate rights of Russian Tatneft companies in Ukraine. It seized 115 properties, including oil depots, gas stations, non-residential buildings, land plots, 118 fuel trucks and cars. The total value of the seized property amounted to over UAH 2 billion. In addition, corporate rights and accounts worth about UAH 400 million were frozen.
Later, the assets of Poltava-Capital LLC, Kharkiv-Capital LLC, and Tatneft-AZS-Ukraine LLC were transferred to ARMA by three waves of Ukrainian court decisions dated June 10, 2022, July 13, 2022, and March 22, 2023. However, over 14 months under ARMA’s control, more than 100 seized Tatneft filling stations have not brought any revenue to the state budget. In August 2023, the government transferred three companies owned by Tatneft to Ukrnafta.
In June last year, the Antimonopoly Committee of Ukraine granted Ukrnafta permission to acquire shares in the authorized capitals of Tatneft Group assets – Poltava Capital LLC, Kharkiv Capital LLC, and Tatneft-AZS-Ukraine LLC – which ensure that the company holds more than 50 percent of the votes in the companies’ supreme management body.
In June 2024, Ukrnafta reported “extremely unsatisfactory condition of the facilities.” We are talking about more than 110 facilities of various types located in Poltava and Kharkiv regions. These include gas stations, oil depots, and other outbuildings.
At the same time, Ukrnafta said that it would have to consider and evaluate each case separately to calculate the required level of investment and the timing of their return.
