Akhmetov's DTEK announces loss of control over mines and companies in Donbas

Ukraine's largest privately owned, vertically integrated energy company DTEK, owned by Rinat Akhmetov, has reported it lost control over coal mines that produce fuel for the operation of thermal power plants and electricity generation, and energy supply companies in Ukraine's temporarily uncontrolled Donbas, the press service of the company said.

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"From that moment, DTEK does not control the operation of these enterprises. The company considers unacceptable the requirement for re-registration of our enterprises, and no form of pressure will force DTEK to change jurisdiction of its assets," the press service said, adding that the leaders of a number of coal mines, power supply companies, and service companies that are part of the holding and located in the ATO zone had received demands from the authorities of the so-called "DPR" and "LPR" about re-registration of said assets.

"Directors of DTEK enterprises have received notices on the need to re-register with the so-called 'DPR' and 'LPR' and the beginning of property inventory," the report says.

Read alsoDonbas militants declare "nationalization" of Ukrainian enterprises located in occupied areas"Enterprises operating in an uncontrolled territory are part of a single Ukrainian economic infrastructure. The rupture of this production chain will make their operations impossible. Donbas mines have no other markets for coal, while working outside Ukraine's legal field entails serious legal consequences... This actually means the halt to companies' operations," said DTEK CEO Maksym Tymchenko.

According to him, DTEK will try to do everything possible to have the company's personnel reemployed at enterprises operating in the territory under Ukraine's control.

"I hope the international judicial system and the rule of law will allow DTEK to resume management," Tymchenko added.

Read alsoAkhmetov reportedly forced to sell Crimean assetsAccording to the press service, following the loss of control over the above-mentioned enterprises, DTEK has appealed to the law enforcement agencies of Ukraine, the State Fiscal Service, tax authorities, and state funds, as well as attracted legal companies to protect its interests in the Ukrainian and international legal field.

The press service recalled that during three years of the military conflict in Donbas, DTEK companies worked exclusively within the framework of the Ukrainian legislation, and in the last year alone, enterprises operating in Donetsk and Luhansk regions, registered in Ukraine, paid more than UAH 2 billion in taxes to the Ukrainian budget.

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