14:19 29.01.2021

Ukraine imposes sanctions against Chinese investors of Motor Sich

2 min read
Ukraine imposes sanctions against Chinese investors of Motor Sich

Citizen of China Wang Jing and affiliated Beijing Xinwei Technology Group Co., Ltd; Beijing Skyrizon Aviation Industry Investment Co., Ltd (both based in Beijing); Skyrizon Aircraft Holdings Limited (the British Virgin Islands) and Hong Kong Skyrizon Holdings Limited (Hong Kong), which have been trying in recent years to realize the rights of PJSC Motor Sich shareholders in Ukraine, have been included in the sanctions list of Ukraine.

According to the decision of the National Security and Defense Council (NSDC) and the decree of President of Ukraine Volodymyr Zelensky dated January 28 (No. 29), the sanctions imposed on them for three years provide, in particular, the blocking of assets, restriction of trade operations, partial or complete cessation of transit of resources, flights and transportation on the territory of Ukraine.

Other restrictions include preventing the withdrawal of capital from Ukraine, a complete ban on transactions with securities of which they are issuers, and a ban on the purchase of enterprises in Ukraine.

The list of sanctions also includes a ban on increasing the size of the charter capital of business entities in which the persons under sanctions own 10% or more, and the cancellation of official visits, meetings, negotiations on signing contracts or agreements.

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