The Government of Ukraine decided on the forced withdrawal of the Odesa Oil Refinery

On June 7, the Cabinet of Ministers of Ukraine adopted a decision on the forced withdrawal of PJSC "Odesa Oil Refinery" in the interests of the state. This decision was made on the basis of the proposal of the National Agency for Search and Asset Management (ARMA). This was announced by ARMA Deputy Chairman Pavlo Velikorechanin.

According to him, the adopted decision will make it possible to forcibly remove the object of ownership of the Russian Federation and its residents, including 99.58% of the plant's shares and its debt obligations to Russian residents. In addition, 100% of the authorized capital of "Energy and Gas Ukraine" LLC, which also belongs to Russian structures, is subject to seizure.

The decision to withdraw the Odesa Oil Refinery was made possible thanks to the mandate of the President of Ukraine. The government, together with ARMA, developed a road map for the further development and use of the plant's capacities, which previously belonged to a pro-Russian businessman. This step is designed to strengthen the country's economic independence and energy security.

Odesa Oil Refinery is one of five oil refineries in Ukraine, although it has not produced petroleum products since 2014. In April 1999, the plant was purchased by the Russian company Lukoil. After the shutdown of the plant in October 2010 due to the economic situation and a change in the oil supply scheme, in 2013 the plant was sold to the Ukrainian corporation SEPEK, headed by Serhii Kurchenko.

After Serhiy Kurchenko fled to Russia in 2014, the Ukrainian government considered the possibility of nationalizing the plant. In June 2017, the Odesa Refinery was confiscated in favor of the state and valued at more than 200 million dollars. However, in April 2019, the Supreme Court of Ukraine allowed Kurchenko to challenge the transfer of the plant to state ownership.

The government's decision to forcibly withdraw the Odesa oil refinery is an important step to strengthen Ukraine's economic stability and security. This will ensure the effective use of the plant's production capacity for the benefit of the state and Ukrainian citizens, restoring the strategic object in the interests of the national economy.