The Russian state Bank has filed a lawsuit against the Crimean plant Firtash

The Russian state Bank demanded that Firtash $40 million.

State-owned Russian Bank VTB filed a lawsuit in the Moscow Arbitration court, demanding to recover $39.4 million of debt from the company’s Ukrainian chemical products (Kyiv, formerly Titan), which belongs to Ukrainian businessman Dmitry Firtash.

This is stated in the court’s determination that the claim is accepted for production.

According to statements of Ukrainian chemical products, commitment to VTB in the amount of $39.4 million have arisen at the company in April 2015.

Another defendant in the case has the Moscow-based company Titan investments, was Firtash in 2014, after annexation of the Peninsula. Titan investments created to legalize the work of the Crimean titanium according to the laws of the Russian Federation on the occupied territory.

In 2016, Titan investments fell under the sanctions of the national security Council because of the supply from Ukraine to Crimea raw materials for Crimea Titan. Now this company duplicates the activity of PJSC Ukrainian chemical products in Russia.

Recall that after the annexation of Crimea Crimean Titan was re-registered in Kiev and renamed to the Ukrainian chemical products. Its property complex leased by the company Titan investments, registered in Moscow, which is controlled by Dmitry Firtash. The plant produces titanium dioxide and fertilizer.

The data of the Russian Federal customs service, indicate that the company’s products exports the company Titan investment. Thus, the owner of the business reduces or avoids the possibility of imposing sanctions and legitimizes the work of the Crimean titanium, both in Russia and on international markets.

According to the Russian customs in January-August, 2017 Titan investments exported goods for more than $45 million the Bulk of exports titanium dioxide, the main products of Crimea Titan.

© 2017 – 2019, paradox. All rights reserved.