Assets Allegedly Connected to Oligarch Kolomoisky Seized by Russian Court – Sky Bulletin

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In a recent decree, the District Court in Adygea, a republic within the Russian Federation, confirmed the confiscation of assets believed to be connected to Ukrainian magnate Ihor Kolomoisky, as announced on March 5 by the Russian judiciary’s press service via Telegram.

This ruling involves JKX Oil & Gas Limited, a British mining company that the court accuses of belonging to an “extremist group” with anti-Russian activities. The company had previously disclosed in November that Kolomoisky has relinquished his stakes in the firm, allegedly retaining no direct or indirect shares.

The confiscated holdings include complete ownership of shares in the firms Yuzhgazenergi and Catering-Yug, estimated to exceed 5.1 billion rubles (approximately $55 million), a Moscow building, several premises, and roughly 500 land plots located across four regions in Russia, the total value of which is reported to be in excess of 6 billion rubles (around $66 million).

The Russian legal authorities have charged Kolomoisky with endorsing Ukraine’s post-2014 revolutionary government and financially aiding the Ukrainian Military, among other allegations.

Renowned as a key figure in Ukraine’s business domain, Kolomoisky was arrested on September 2, 2023, in Ukraine due to alleged fraud and money laundering concerning his oil and gas assets. His bail was initially placed at Hr 509 million (currently $13.2 million).

As of February 28, the Shevchenkivskyi district court has prolonged Kolomoisky’s jail period by an additional two months, albeit reducing his bail to Hr 2.4 billion hryvnias ($62.5 million).

Kolomoisky, who is 61 years old, has consistently cited health issues while in custody. Despite his appeals for house arrest as an alternative to pretrial detention based on health concerns, his requests were denied in the previous November.

The paths and pitfalls of oligarch Kolomoisky currently in detention. What led him to this point and what could be his way out?

The recent apprehension of Ihor Kolomoisky marks yet another downturn in the infamous Ukrainian oligarch’s turbulent career. In the past, he wielded considerable influence, managing vast industrial sectors, employing his media network, and backing a dedicated political entourage…

FAQ Section

Who is Ihor Kolomoisky?

Ihor Kolomoisky is a Ukrainian business tycoon and former governor of Dnipropetrovsk Oblast. He has significant interests in various sectors, including finance, media, and energy.

What exactly did the Russian court seize?

The court confiscated assets which include shares in companies Yuzhgazenergi and Catering-Yug, a building and premises in Moscow, and a large number of land plots spread across four Russian regions.

Why is Kolomoisky in detention?

Kolomoisky is currently facing charges of fraud and money laundering in Ukraine that are related to his oil and gas businesses. He was arrested on September 2, 2023, and is in pretrial detention.

Has Kolomoisky been connected to political developments in Ukraine?

Yes, Kolomoisky has been accused of supporting the new Ukrainian government following the 2014 Revolution of Dignity and allegedly providing financial support to the Ukrainian Armed Forces.

Conclusion

The legal tussle involving Ihor Kolomoisky’s assets continues as the District Court of Adygea in Russia has claimed the confiscation of property reportedly linked to the oligarch. This development adds another layer to Kolomoisky’s already complex legal battles within Ukraine. Charged with serious allegations relating to fraud and money laundering, Kolomoisky is currently in detention with his health condition citing constraints to his defense. The outcomes of these legal proceedings will likely have significant implications for Kolomoisky’s business empire and may also reflect in broader geopolitical tensions between Ukraine and Russia.

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