HarvEast agricultural holding in March 2016 completed the sale of assets in Crimea.

"HarvEast made the decision to sell assets in the peninsula in 2013 in connection with the fact that this area belongs to the high-risk area of agriculture due to low rainfall. However, the deal has been recently closed. In recent years, it has been almost impossible to effectively manage the asset due to the current situation," holding CEO Dmytro Skorniakov said.

The holding did not disclose the amount and other details of the transaction.

The company controlled about 20,000 hectares of land in Crimea. It mainly planted wheat and sunflower.

Initially, the share of harvest from HarvEast's assets in Crimea accounted for 10% of the total volume.

HarvEast is an agricultural holding. Its core business is crop production (cultivation of wheat, sunflower, barley, perennial grasses, corn) and dairy farming.