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"I’m not ruling out other similar decisions": Zelenskyy explains why five companies are being "nationalised"

Monday, 7 November 2022, 22:06
I’m not ruling out other similar decisions: Zelenskyy explains why five companies are being nationalised

President Volodymyr Zelenskyy has spoken about the transfer into state ownership of the assets of Motor Sich, Zaporizhtransformator, AvtoKrAZ, Ukrnafta and Ukrtatnafta, adding that more decisions like this may be taken in the future.

Source: Zelenskyy's evening address

Quote from Zelenskyy: "Today a decision was announced regarding some Ukrainian enterprises. This decision was dictated by military necessity and was agreed upon at the Headquarters of the Supreme Commander-in-Chief.

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Five strategic enterprises are being expropriated for wartime needs.

Some of them were barely functioning. Now all of them will work for the defence of Ukraine.

They will be repairing and manufacturing equipment, supplying the defence forces, and rebuilding our infrastructure - a complex task that can only be accomplished through the system of military-state management.

I’m not ruling out other similar decisions either."

Background: The National Securities and Stock Market Commission took the decision to ensure the compulsory expropriation of shares in the public joint-stock companies Ukrnafta and Ukrtatnafta, the joint-stock company Motor Sich, and the private joint-stock companies AvtoKrAZ and Zaporizhtransformator into state ownership. Accordingly, the regulator allowed shares in these particular enterprises to be written off from the accounts of private individuals and pass into state ownership.

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