Seizure of Motor Sich: why have SBU and Zelensky interfered in the scandal

SBU has interrupted the meeting of Motor Sich shareholders. Photo: SBU press service

SBU has interrupted the meeting of Motor Sich shareholders. Photo: SBU press service

The officers of the Security Service (SBU) arrived with searches in Zaporizhzhia at the venue of the extraordinary meeting of Motor Sich shareholders, the SBU press service reported.

According to the report, law enforcement officers are recording possible "illegal activity of DCH and Skyrizon Aircraft Holdings Limited. These companies are related to Motor Sich Joint Stock Company overtaking."

"Within the framework of the initiated criminal proceedings, the SBU documents the facts of preparation for the destruction of the production facilities of the joint-stock company, that are of great defense and national economic importance. Investigative actions are continuing," the SBU said in a statement.

Earlier, President Zelensky signed a decree dated January 29, enacting the NSDC decision on new sanctions against Chinese investors of Motor Sich. The sanctions are imposed for three years.

The Motor Sich shareholder considers the sanctions of Ukraine unreasonable, the company said in a statement.

"We have reason to believe that these are deliberate actions of the state of Ukraine in order to impede Skyrizon's investments in the Ukrainian company Motor Sich and to prevent the implementation of an international cooperation project. We have reason to believe that such actions coincide with the purpose of the Bureau of Industry and Security (BIS) of the US Department of Commerce dated January 14, 2021 to include Skyrizon in the list of military end users (MEU)," the message says.

The company said that due to the sanctions it will be unlawfully deprived of its legal rights and obligations. The company added that it would be forced to break off the generally accepted business relationship with Motor Sich, which would entail "huge irreversible losses."

Context. Earlier it was reported that the DCH group of companies of Oleksandr Yaroslavsky is going to conduct a competitive selection for executive positions at Motor Sich. Note that Yaroslavsky is not a co-owner of Motor Sich. The Antimonopoly Committee of Ukraine returned without consideration the application of Skyrizon and DCH of Alexander Yaroslavsky for the purchase of a company’s controlling stake three times. After that, Yaroslavsky stated that he was pressured.

President Zelensky in an interview with HBO said that the controlling stake in Motor Sich will remain in Ukraine.

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