Ukrainian state control of several ‘strategically important’ companies

Ukrainian state control of several ‘strategically important’ companies

Ukraine’s government announced on Monday that it will take control of several “strategically important” companies to help with the war effort, including oil and gas producer Ukranfta and aircraft manufacturer Motor Sich.

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“The decision was made to confiscate the assets of strategically important companies and place them in state ownership,” Ukrainian Security Council Secretary Oleksiy Danilov told a news conference.

“After the lifting of martial law, these assets can be returned to their owners or their value can be returned,” he said.

In addition to Motor Sich and Ukrnafta, the state also controlled Zaporozhtransformator, a specialized producer of reactors, truck manufacturer AvtoKraz, and oil refiner Ukrtatnafta.

The assets of these five companies will be managed by the Ministry of Defense to ensure the urgent needs of the armed forces. “It is a question of providing fuel and lubricants and repairing military equipment and weapons,” Ukrainian Defense Minister Oleksich Reznikov said.

Prime Minister Dennis Schmigel noted that these companies manufacture “essential products for the needs of the defense and armed forces, as well as for the energy sector.”

He stressed that “these companies must work 24 hours a day, 7 days a week in order to meet the needs of the state’s defense.”

Since the beginning of the Russian invasion, Ukraine has been highly dependent on Western arms supplies and financial support from the United States and the European Union.

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About the Author: Hermínio Guimarães

"Introvertido premiado. Viciado em mídia social sutilmente charmoso. Praticante de zumbis. Aficionado por música irritantemente humilde."

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