Security Service of Ukraine seizes Kremlin-aligned oligarch's property worth over US $92 million

The Security Service of Ukraine (SSU) and the Prosecutor General's Office (PGO) have announced the seizure of property belonging to the pro-Russian oligarch Vadym Novynskyi, who has been implicated in aiding the aggressor country.

Source: SSU and PGO press services

Details: The list of blocked assets includes shares in 40 Ukrainian entities and 30 gas wells producing commercial volumes of natural gas. The total value of the seized property is more than UAH 3.5 billion [roughly US $92,450,000 – ed.], the SSU stressed.

Quote: "It has been established that to avoid NSDC [National Security and Defence Council of Ukraine – ed.] sanctions, Novynskyi tried to re-register his industrial facilities to several affiliated commercial entities.

He engaged private notaries and state registrars under his control to carry out the fraud. Currently, based on the SSU evidence, the Ministry of Justice has cancelled the illegal actions of the registrars concerning a number of the oligarch's entities," the agency said.

"The investigation established that after applying personal special economic and other restrictive sanctions against him, the businessman re-registered his entities to persons under his influence. These are foreigners who have a direct connection with the aggressor state," the PGO added.

Details: The SSU also added that in criminal proceedings under Article 111-2 (aiding the aggressor state), SSU officers conducted searches in the companies’ offices and at the places of work and residence of the individuals involved.

"The searches revealed documents, seals of non-resident companies and pro-Kremlin religious literature. The investigation is ongoing to establish all the circumstances of the crime and bring the perpetrators to justice," the statement said.

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