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According to ZN.UA, the note that the Ukrainian Foreign Ministry received from colleagues in China expressed concern about Kiev’s actions towards Motor Sichi investors.
On February 1, the Ministry of Foreign Affairs of Ukraine received a note from the Ministry of Foreign Affairs of China due to the sanctions imposed by the President of Ukraine, Volodymyr Zelensky, against a Chinese investor in the Ukrainian company Motor Sich. This, referring to their sources, was reported by the ZN.UA.
According to journalists, in the document, Chinese diplomats expressed concern about the actions of the Ukrainian authorities.
The post does not provide any other details.
PJSC “Motor Sich” is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbines.
In April 2018, the Shevchenko District Court of Kiev confiscated 56% of Motor Sichi shares owned by foreign investors. Until the end of the pre-trial investigation, the court prohibited any action with seized property that could result in a change of ownership. The shares remain under arrest.
In 2019 former shareholder of the company Vyacheslav Boguslaev confirmed to the Ukrinform agency that it had sold the company to a Chinese company. According to the businessman, the Chinese have pledged to invest 250 million dollars in the company within two years.
Antitrust Committee of Ukraine several times it rejected the request of Chinese investors to buy Motor Sichi. Skyrizon tried to obtain such permission together with the company DCH of the Ukrainian businessman Alexander Yaroslavsky. After AMCU rejected another application in November 2020, the Chinese company announced that it intends to sue the state of Ukraine for $ 3.5 billion due to the loss of investment in Motor Sich.
The United States opposed the sale of Motor Sich PJSC to Chinese investors. During a visit to Ukraine in 2019, then-US National Security Adviser John Bolton said he would try to convince Ukrainian authorities that cooperation with China is dangerous.
On January 15, 2021, the US Department of Commerce Bureau of Industry and Security included Skyrizon in the list of “military end-users for whom a special regime of cooperation with US companies has been established.” In response, the company declared the inadmissibility of politicizing trade and economic relations and unreasonable pressure on Chinese companies.
On January 28, Zelensky signed a decree on the introduction of sanctions against Chinese investors in Motor Sichi: Skyrizon Aircraft Holdings Limited, Hong Kong Skyrizon Holdings Limited, Beijing Skyrizon Aviation Industry Investment, Beijing Xinwei Technology Group.
The Chinese investor called the sanctions “brutal theft”.
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