Russia tries to stop Ukraine’s fishing fleet

Russian Vnesheconombank seeks arrest of Ukrainian property abroad in case of sale of Prominvestbank.

Russian bank VEB says it has secured the arrest of Ukraine’s foreign property. We are talking about the shares of the Ukrainian shipping company Fishing Company SA, which is under the jurisdiction of the State Fisheries Agency of Ukraine, writes RBC

The Eastern Caribbean Supreme Court of the British Virgin Islands allegedly ordered the seizure of Ukraine’s foreign assets at the request of VEB.

The bank says it will continue its efforts to find and seize property in Ukraine. According to Igor Krasnov, VEB’s chief lawyer, Kiev may thus lose its entire fishing fleet in Southeast Asia and West Africa, which will be sold to pay off the debt.

VEB is taking such measures in response to Ukraine’s decisions regarding its subsidiary bank, Prominvestbank, which Ukraine has put up for auction and sold.

Earlier, the Kiev Court of Appeal denied the Russian Vnesheconombank by recognizing the Stockholm Arbitration’s decision to stop the forced sale of 99.77% of Prominvestbank shares.

At the same time, the Stockholm Arbitration ordered Ukraine to reimburse VEB for the costs of the investment dispute. As the newspaper notes, after Ukraine voluntarily refused to comply with the decision, the Supreme Court of the Eastern Caribbean of the British Virgin Islands enforced it.

Note that in November, the National Bank allowed TASkombank owner Sergei Tigipko to buy 100% of Fortifay Financial Company LLC, which owns 99.77% of Prominvestbank shares.

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