The final decision in the case of billionaire Mikhail Shelkov has been made

The Appeals Chamber of the High Anti-Corruption Court upheld the HACC decision of September 30, 2024 in case No. 991/6493/24 on the recovery of assets for the state revenue from russian billionaire Mikhail Shelkov and VSMPO-AVISMA Corporation PJSC. The decision was made on February 12, 2025.

The decision concerns the rights of claim held by non-resident companies controlled by Shelkov to Demurinsky Mining and Processing Plant LLC. The total amount of these claims is approximately USD 29 million. US dollars and almost UAH 7 million.

Silkov is a russian billionaire, former head of the investment division of the state-owned Rostec company and the owner of a controlling stake in VSMPO-AVISMA, the world's largest producer of titanium for the aerospace industry.

This is not the first confiscation of Shelkov's assets in Ukraine. In 2023, the court confiscated a 100% stake in the authorized capital of VSMPO TITAN Ukraine LLC, movable and immovable property of the company, as well as funds in its bank accounts, following a lawsuit filed by the Ministry of Justice.

In addition, in 2023, 100% of the shares in the authorized capital of the Ukrainian companies Tai-Minerals LLC, Investagro LLC, and Demurinsky Mining and Processing Plant LLC, their property and funds in their accounts were confiscated.

The team of the Ministry of Justice is doing everything possible to stop the actions of persons involved in the aggression of the russian federation against Ukraine aimed at financing the aggressor state.

Source: Ministry of Justice of Ukraine