Nearly 100 companies in Ukraine quietly change Russian ownership in 6

Details: Written by: Yana Prots; 29.Jan; Hits: 11

Within the last six months, 93 companies in Ukraine have removed signs of Russian ownership and continue to do business in the country, despite a moratorium on altering the registration of companies with Russian owners, the monitoring service Opendatabot reported.In response to Russia’s full-scale invasion, Ukraine adopted a law to allow the seizure of assets or property in Ukraine owned by Russia or Russian citizens.

The Kyiv Independent

The Kyiv Independent is Ukraine’s fastest-growing English-language media outlet, created in November 2021, just three months before the full-scale Russian invasion of Ukraine.

Serve as the bridge between Ukraine and the world, delivering reliable news, context, and on-the-ground reporting.

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As part of the law, Russian-owned or linked companies were barred from reregistering their ownership, with some exceptions.Despite the ban, some companies have found ways to remove their Russian owners to continue operating. Opendatabot also found that some of these companies have participated in public procurement tenders.Opendatabot reported that a manufacturing and clothing distribution company with Russian ties, Texter Ltd., won seven tenders totaling Hr 19.6 million ($467,777). Welesgard LLC, a business consulting firm, won contracts worth Hr 19.3 million ($459,633), and tech retailer Era Mobile received 37 tenders totaling Hr 1.9 million ($45,248).In 2023, 12 companies with Russian ties earned over Hr 10 million ($238,421), Opendatabot said. Nearly half earned less, while others filed no reports.Over 18,000 companies in Ukraine had Russian ties at the start of the full-scale invasion, according to Opendatabot.

Content Original Link:

https://kyivindependent.com/nearly-100-companies-in-ukraine-quietly-change-russian-ownership-in-6-months-monitoring-service-reports/

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