Opinion
What the state property fund does with confiscated Russian assets
A special operation by the security services and the prosecutor general's office stripped Russia of a critical component for its defence industry
Rustem Umerov
Head of the State Property Fund of Ukraine
Before Russia’s full-scale invasion, the Demurinsky mining and processing plant, or Demurinsky GOK, had been supplying raw materials through a number of non-residents for the production of titanium, in particular to the Russian military-industrial complex.
This titanium could then be used to produce the missiles that Russia is now firing at Ukraine. The plant was owned by Russian oligarch Mikhail Shelkov.
In early February 2023, Ukraine’s anti-corruption court upheld the claim of the justice ministry to recover the oligarch's assets, including Demurinsky GOK, into the state ownership of Ukraine.
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