Over 400 companies in Ukraine trying to conceal business ties with Russia

Ukrainska Pravda
·2 min read
15

The open data platform Opendatabot has stated that more than 400 companies operating in Ukraine are trying to hide their business ties with the aggressor country.

Source: Opendatabot

Details: It is emphasised that the registers revealed 401 companies with a "Russian trace", which, despite the moratorium on registration actions in relation to companies owned by Russian citizens, made changes and removed owners and beneficiaries from Russia.

In addition, there are numerous cases of formal changes of ownership, rather than real ones, Opendatabot says.

Quote: "During the year and a half of the full-scale war, despite the existing legal prohibitions, 401 companies with a Russian trace have made changes and removed their owners and beneficiaries from Russia."

More details: Opendatabot said that the top 10 companies by revenue in 2022 that cut ties with Russia after the start of a full-scale war are as follows:

 

SCREENSHOT

Background:

  • As of 23 February 2022, Opendatabot found a Russian trace in 20,881 companies registered in Ukraine.

  • Since the beginning of Russia's full-scale invasion of Ukraine, a moratorium has been imposed on registration actions in relation to companies owned by Russian citizens. This restriction was imposed to ensure the protection of national interests in future claims of Ukraine in connection with the military aggression of the Russian Federation.

  • Currently, only certain categories of Russian citizens have the right to make changes in companies, in which they are owners, in particular, those legally residing in Ukraine and those who own up to 10% of the company's share capital.

  • In addition, the law does not impose any restrictions on Russian citizens who have changed their citizenship to any other country that is not considered an aggressor country under Ukrainian law.

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