The Burisma Group with oil and gas assets in Ukraine has reported that all legal proceedings and pending criminal allegations against its President Mykola Zlochevsky and operating companies of Burisma Group have been closed.

"The decision to fully close all pending legal proceedings and criminal allegations was the result of many months of cooperation between the Prosecutor General's Office (PGO) and the legal team representing the Burisma Group," the group said in a press release issued on Thursday.

Further, the Burisma Group agreed that should an investigation determine that the Burisma Group owed outstanding taxes and/or fees that it would, without appeal, pay any and all outstanding taxes, fines and fees.

"As a result of the investigation, Burisma agreed to pay UAH 180 millions of tax liabilities. The group's companies paid the sum," the group said.

In general, in the past two years operating companies of the group paid over UAH 5 billion of taxes to the budgets of all levels.

"Since all legal proceedings against Burisma Group are closed, it will allow us to increase production volumes and the flow of foreign investments in Ukraine," Zlochevsky said, commenting on the situation.

Burisma said that the Pechersky District Court of Kyiv obliged the PGO of Ukraine to close the case against Zlochevsky and remove him from the wanted list. The PGO executed the relevant court order. The Ukrainian court decision fully complies with the decision made by the British court on January 21, 2015 obliging the Serious Fraud Office (SFO) to pay legal costs of the defendant.

"It is reassuring that the independent Ukrainian court managed to take the decision that is fully consistent with the decision made by the British court. For Ukraine, the decision on Zlochevsky and Burisma will be also instrumental in making the country energy sufficient, since it will allow Burisma to increase domestic gas production as well as payments to the national budget," Independent Director of Burisma Aleksander Kwasniewski said.

The group said that former U.S. Deputy Assistant Attorney General Mr. John Buretta is the group's defending lawyer.

Zlochevksy's Burisma Holdings owns Ukrainian gas and oil producers: Esko-Pivnich, Pari, First Ukrainian Petroleum Company and Aldea.