Home Business News Metinvest requests $160 million to be unfrozen for the Ukrainian Armed Forces

Metinvest requests $160 million to be unfrozen for the Ukrainian Armed Forces

by LLB Finance Reporter
14th Nov 23 8:34 am

The mining and metallurgical group Metinvest has requested that the use of frozen Russian rubles their accounts be allocated to help the Armed Forces of Ukraine.

Oleksandr Vodoviz, head of the project office of the general director of Metinvest Holding LLC, has said, “There is a big question with the fact that there are a lot of prohibitions during the war, I’m not even saying that we have 160 million dollars in the equivalent of rubles frozen in our accounts.

“Unfreeze them, say: all the rubles are for the Armed Forces of Ukraine.”

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Vodoviz said that this has been postponed due to the fear there are some government decision-makers are being accused of illegal actions.

“Nobody wants… to take responsibility.

“Because again: rubles, a toxic scheme, now they will come (inspectors and law enforcement officers) – there are no people ready to make a decision,” he said.

He said problem one is “where to get people to run factories.”

Vodoviz said the number of Metinvest employees has significantly decreased from 150,000 to 60,000 due to the war and the factories are now operating at 20% capacity.

“We have no idea how to get these people back… There are no incentives for them,” he added.

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