The Security Service of Ukraine, together with the Bureau of Economic Security (BES), has unveiled new crimes of sub-sanctioned oligarch from the Russian Federation Mikhail Shelkov, who is involved in schemes for covert supplies of Ukrainian titanium raw materials to the aggressor country.

As reported on the Security Service's website on Wednesday, it was established that Shelkov circumvented the personal sanctions imposed on him by the National Security and Defense Council and used for this a company controlled by one of the European countries.

"On paper, this foreign enterprise acted as a customer of titanium raw materials to Demurinsky Mining and Processing Plant LLC from Dnipropetrovsk region. However, in fact, Ukrainian products were sent by rail to Russia. This scheme was in effect before the full-scale invasion of Russia and brought millions of windfall profits to the organizers of the transaction through nonpayment of taxes and concealment of real incomes. Thus, during 2020-2021, the defendants caused damage to the state budget of about UAH 100 million," the Security Service said.

Based on the evidence base, Shelkov was notified of suspicion under Article 212 (evasion of taxes, fees or other compulsory payment) and Article 209 (legalization (laundering) of criminally obtained money and other property) of the Criminal Code of Ukraine.

Earlier, in June, investigators of the Security Service of Ukraine notified him of a suspicion of another episode of illegal activity under Part 110-2 of the Criminal Code (financing actions committed with the aim of forcibly changing or overthrowing the constitutional order or seizing state power, changing the boundaries of the territory or state border of Ukraine). Then the Ukrainian intelligence service established that Shelkov was secretly supplying Ukrainian titanium raw materials to the Russian Federation for the needs of the Russian military-industrial complex.

An investigation is ongoing to ascertain all the circumstances surrounding the crime. Since the person involved is on the territory of the aggressor country, complex measures are being continued to bring him to justice for crimes against Ukraine.