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The imposition of sanctions against Chinese investors in Motor Sich came as a surprise to Yaroslavsky

Ukraine

DCH believes that the purpose of their initiators could have been to prohibit the holding of a shareholders' meeting, the result of which was to restore the Chinese shareholders of Motor Sich in their legal rights.

The imposition of sanctions against Chinese investors in Motor Sich came as a surprise to Yaroslavsky

The imposition of sanctions against Chinese investors in Motor Sich PJSC came as a surprise to the DCH group of Kharkiv billionaire Alexander Yaroslavsky. reported in the press service of the enterprise .

"We do not know the motives for such a decision - they are not described in the text of the Decree of the President of Ukraine, it is only clear that the initiator is the SBU," DCH noted.

According to the press service, experts have yet to assess the legal and other consequences of Skyrizon's inclusion as the first Chinese company included in the sanctions list of Ukraine.

"All further actions of DCH will be carried out taking into account our interest in the development of the Ukrainian aircraft industry and exclusively in the legal field," DCH said.

Recall that on Friday, the state of Ukraine, represented by the relevant government institutions, made a decision on restrictive measures - sanctions against Chinese investors in Motor Sich PJSC.

In particular, by decree of President Volodymyr Zelensky, sanctions were introduced for a period of three years against Wang Jing, a citizen of the People's Republic of China, a key shareholder of Beijing Xinwei Technology Group and Beijing Skyrizon.

Also, restrictions were introduced against Skyrizon Aircraft Holdings Limited - a company from the British Virgin Islands. The restrictions are imposed for three years. The company will have a temporary restriction on the right to use and dispose of property; restriction of trading operations; limitation of partial or complete termination of the transit of resources, flights and transportation through the territory of our country.

Earlier on December 5, 2020, the Ministry of Justice of Ukraine received a request for arbitration on behalf of the citizens of the People's Republic of China, who indicate that they are shareholders of Motor Sich PJSC, against the state of Ukraine.

Plaintiffs allege that violation of their rights as investors stem from the agreement between the Government of Ukraine and the Government of the PRC on the encouragement and mutual protection of investments of 31.10.1992. The plaintiffs demand compensation from Ukraine for the violation of the Agreement.

The amount of the claim, according to preliminary estimates of the Ministry of Justice, will amount to 3.5 billion US dollars (which Ukraine may lose by the decision of the arbitration tribunal).

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