HACCU confiscates Kirovohrad Ore Management from Russian businessman
18 November 10:57
The High Anti-Corruption Court has ruled to confiscate a portion of shares in Kirovohrad Rudoupravlenie JSC that could have been indirectly owned by Russian businessman Sergey Kabargin. The assets of three companies associated with him were sanctioned. This was reported by the press service of the HACC, "Komersant Ukrainian" informs
What assets became the property of the state
The court found that Kabargin had the ability to perform actions equivalent to the right to dispose of the company’s shares.
As part of the decision, the following were confiscated:
- 18.7896% of the shares (153,575 securities with a nominal value of UAH 7,678.75) owned by Trust LLC.
- 24.4696% of shares (20,000 securities with a nominal value of UAH 10,000) in Group Sim Universal Limited.
- 9.0053% of shares (77,650 securities with a nominal value of UAH 2,882.50) owned by Securities Agency LLC.
According to the court, all these stakes were actually under the potential control of a Russian businessman.
The lawsuit filed by the Ministry of Justice
In September 2025, the Ministry of Justice filed a lawsuit with the HACCU demanding to impose sanctions on Sergey Kabargin in accordance with paragraph 11 of part one of Article 4 of the Law “On Sanctions”.
In the document, the Ministry asks to transfer to the state 52.76% of shares in Kirovohrad Ore Mining, which, according to the investigation, are associated with Kabargin.
Who is Sergey Kabargin?
Kabargin is a Russian businessman and co-owner of the Titan-2 holding company, which operates in the nuclear and thermal energy sectors, as well as in the oil, gas and chemical industries.
The company is a strategic partner of Rosatom and the general contractor for the construction of Leningrad NPP-2 and Kursk NPP-2.
What is known about the company
JSC Kirovograd Ore Mining has been operating since 1935 and provides refractory raw materials to the Ukrainian industry.
The company has the right to use subsoil and specializes in the extraction of secondary kaolin from the Oboznivske deposit.
Kaolin is a natural white clay mineral that is a mineral of national importance.
It is used in:
- production of refractory materials;
- manufacture of porcelain, earthenware, tiles and sanitary ware
- oil production and oil refining industries;
- cosmetics industry;
- rubber and cement production;
- water purification.
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