Russian owner of Kirovohrad Oblast mine group charged by Ukraine's Security Service

The Security Service of Ukraine has pressed charges against the Russian businessman Sergei Kabargin, the beneficial owner of the Kirovohradske Mine Management, reported the press service of the Prosecutor General's Office and the SBU.

The Kirovohradske Mine Management operates in the Kropyvnytskyi district, where it extracts sand, gravel and clay, in particular refractory kaolin. The corporate rights of the company are under arrest, in May 2023 it became known that the Agency for Recovery and Management of Assets is looking for a manager for them.

The investigation believes that on the instructions of Kabargin, rocks from the Ukrainian enterprise were allegedly supplied to third companies, although in reality they were delivered to Rosatom and Lukoil. Supplies went through the Russian Borovych refractories plant.

The SBU also established that the beneficiary of the Kirovohradske Mine Management has ties to Russia's military-industrial complex.

"[The companies associated with him] pay billions in taxes and other mandatory payments both to the budget of the aggressor state and to extra-budgetary funds. The funds are directed to the needs of the armed forces of the Russian Federation, as well as financing of illegal armed formations involved in the Russian aggression against Ukraine," the prosecutor's office said.

In this connection, the businessman was charged under part 4 of Art. 110-2 of the Criminal Code – financing of aggression against Ukraine.