12:02 29.10.2021

Khmelnytsky denies info about doing business in Russia, investing in Irkutsk Oil Company

2 min read
Khmelnytsky denies info about doing business in Russia, investing in Irkutsk Oil Company

Entrepreneur Vasyl Khmelnytsky, as a loan guarantee, indirectly owns 20% of shares in the European company TKB Pacific Worldwide, which in turn owns 25% in Russia's INK-NefteGasGeologiya, but plans to withdraw from shareholders by the end of 2022 after full repayment of the loan.

"I'm not doing business in Russia and have not invested in the acquisition of shares of Irkutsk Oil Company (INK)," Khmelnytsky commented to Interfax-Ukraine on the publication of the Russian edition of Forbes that he could be a co-owner of several INK assets.

The Ukrainian businessman explained that he has known the owner of TKB Pacific Worldwide for 35 years.

"The securities are registered for me with the right to buy back. At the moment, most of the loan has already been repaid. I do not take part in operating activities and management. I do not receive dividends from activities," Khmelnytsky stressed.

He clarified that in 2017, TKB Pacific Worldwide exercised an option to purchase a 25% stake in subsidiary INK-NefteGasGeologiya, whose oil production does not exceed 2% of INK's total oil production.

"I have nothing to do with this transaction and do not receive income from the securities of the Russian company," the Ukrainian businessman said.

The Russian edition indicated that INK-NefteGasGeologiya holds licenses for the Ayan block and the Ayan gas field.

Khmelnytsky in October 2017 united his business projects and social initiatives under the brand UFuture Investment Group (Brussels). UFuture is a holding company with a diversified portfolio of assets in real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. UFuture's assets are estimated at $ 550 million. The total capitalization of the businesses in which it has invested exceeds $ 1 billion.

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