The Shevchenkivsky District Court of Kyiv partially canceled the seizure of the accounts of PJSC Poltava Mining of Ferrexpo Plc with assets in Ukraine to pay salaries to employees, provide assistance to internally displaced persons and mobilized workers, and ensure the production process.

According to a press release from the company, the court made the decision on February 16, 2023.

At the same time, the court partially satisfied the requirements of the enterprise. In particular, Poltava Mining is also allowed to pay salaries and related accruals (alimony, sick leave, benefits to the families of employees who died during the defense of Ukraine, etc.) to full-time employees, payment for rental services of communal and state property, goods and services of state-owned and municipal enterprises, institutions and utility bills.

In addition, it is allowed to make payments related to the payment of local taxes and fees, as well as payment for the purchase of products, groceries, and rent of premises for internally displaced persons.

The company's press release welcomed the court's decision, but stated that the court rejected the possibility of payment for goods and services received from contractors. Poltava Mining believes that the extension of the ban on making these payments jeopardizes the work of such companies, because for most of them Poltava Mining is the main customer.

In addition, the services and goods that these contractors provide are critical to the sustainable operation of the enterprise. And a possible decrease in production volumes or its stop will entail non-compliance with taxes by the state and workers with a stable salary.

Poltava Mining also insists on lifting the ban from financial transactions aimed at social support for Ukraine. According to the company, in 2022, as part of the humanitarian support program for Ukraine, Poltava Mining provided more than UAH 500 million to help eight regions most affected by Russian aggression. The enterprise considers it extremely important today to continue all the planned social and humanitarian programs within the framework of the activities of the Poltava Mining Charitable Foundation.

Poltava Mining points out the importance of full unblocking of accounts to ensure the full operation of the enterprise and takes all necessary steps to do this.