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After sanctions against investors, Motor Sich China decided to refrain from investing in Ukraine

Ukraine
After sanctions against investors, Motor Sich China decided to refrain from investing in Ukraine

A number of member companies of the European Business Association (EBA), which "have Chinese roots", are concerned about the imposition of sanctions by Ukraine against the Chinese shareholders of Motor Sich PJSC and will temporarily refrain from investments, said EBA Executive Director Anna Derevyanko.

“Chinese investors have temporarily put on hold all issues related to investing in the country,” she said at a meeting of the Global Economic Review of Ukraine Association on Thursday, when its participants raised the issue of these sanctions and their possible consequences for trade. economic relations with China.

According to Andrey Gorokhov, General Director of UMG Investments, in 2020 Ukraine was lucky with the conjuncture in agricultural and metallurgy, and a large part of the products of these industries went to China. He added that the Chinese market is also expected to grow in 2021.

“I understand for sure that you have to be more careful with a trading partner with a turnover of about $ 10 billion,” A. Gorokhov noted.

“If we suddenly make mistakes in this direction, then we will need to understand where we will compensate for our sales markets, given the situation in Europe and the United States and the uncertainty about pandemics. I hope there will be wise and balanced decisions, and people will approach this issue professionally, "the head of UMG Investments pointed out.

As reported, President of Ukraine Volodymyr Zelenskyy, by decision of the National Security and Defense Council (NSDC), on January 29 imposed sanctions on Chinese citizen Wang Jing and related Beijing Xinwei Technology Group Co., Ltd; Beijing Skyrizon Aviation Industry Investment Co., Ltd (both Beijing); Skyrizon Aircraft Holdings Limited (British Virgin Islands) and Hong Kong Skyrizon Holdings Limited (Hong Kong), trying in recent years to exercise the rights of the shareholders of Motor Sich PJSC in Ukraine.

In this regard, China sent a note to the Ministry of Foreign Affairs of Ukraine.

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