Detectives of the National Anti-corruption Bureau of Ukraine conduct searches at the ICU investment group HQ in Kyiv.

The searches are part of the investigation into the so-called Rotterdam + coal pricing formula, as stated in the ICU statement posted on the group website.

ICU in its statement says the raid is "political pressure" on the group.

"Despite the fact that previously, ICU fully satisfied all NABU inquiries for information on transactions with securities of DTEK Finance PLC (United Kingdom) in the framework of criminal proceedings against officials of the National Energy and Utilities Regulation Commission over possible violations, No. 52017000000000209 dated March 24, 2017, the ICU office is currently being searched," the statement reads.

ICU assures that it provided full assistance to law enforcement agencies, once again handing all the requested documents.

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"There were no claims from law enforcement agencies regarding these transactions,” the company said.

It is noted that the search has "an obvious political context".

"The reason for this pressure ICU sees discontent by the current government and its entourage with the reforms carried out by its predecessors, some of whom had previously worked at the ICU," the company believes.

As UNIAN reported, in 2017, NABU launched criminal proceedings targeting the previous chairman and members of NEURC, who, in the interests of thermal power operators, while forming the wholesale market price, unreasonably included in it a formula that overestimates the cost of thermal coal in electricity tariffs ("Rotterdam+" formula).

NABU found that such actions by NEURC led to generating companies gaining super-profits, while electric power consumers incurred unreasonable expenses.