Ukraine nationalises nearly US$49 million of Russian oligarch Viktor Kononov's assets

The Security Service of Ukraine (SSU) has said that the High Anti-Corruption Court of Ukraine upheld the claim of the Ukrainian Ministry of Justice to transfer VinnytsiaPobutkhim, owned by Russian oligarch Viktor Kononov, to Ukraine. Source: Security Service of Ukraine (SSU) on Telegram Details: VinnytsiaPobutkhim produced cosmetics and household chemicals and was the leading manufacturer of household chemicals in Ukraine.

The SSU said that 100% of the company's shares, as well as all its bank accounts, industrial facilities, vehicles and real estate, will be transferred to Ukraine.

The total value of these assets is over 2 billion hryvnias, or nearly US£49 million. Kononov is the CEO and beneficial owner of the sanctioned Russian company Nevskaya Kosmetika (Nevskaya Cosmetics), which owned the assets of VinnytsiaPobutkhim based in Vinnytsia, Ukraine.

According to the SSU, Kononov is a public supporter of the war against Ukraine and one of the key contributors to Russia's budget. The SSU report found that in order to hide the outputs of the Vinnytsia firm from nationalisation, Nevskaya Kosmetika top management tried to get them out of Ukraine as humanitarian cargo.

The Ukrainian Security Service exposed the fraud in July 2022. The investigation is ongoing. The operation was conducted jointly with the National Police under the supervision of the Prosecutor General's Office.

Background: In June, the Ukrainian Ministry of Justice filed a lawsuit with the High Anti-Corruption Court of Ukraine to recover 100% of the shares of Vinnytsiapobutkhim, a private joint-stock company owned by the Russian company Nevskaya Kosmetika, for Ukraine's benefit.

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