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SBU exposes Russian oligarch Mykhailo Shelkov for supplying Ukrainian titanium raw material to Russia

WorldRussiaSBU exposes Russian oligarch Mykhailo Shelkov for supplying Ukrainian titanium raw material to Russia

The Security Service has collected evidence on the sanctioned Russian oligarch Mykhailo Shelkov, who is involved in the schemes of covert supply of Ukrainian titanium raw materials to the Russian Federation.

The Russian used the Demurinsky Mining and Processing Plant LLC in the Dnipropetrovsk region under his control to implement the equipment.

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Rare minerals from the deposits of the Ukrainian company are indispensable components for the production of high-quality titanium.

It was Shelkov who supplied them to the Russian Federation on the order of enterprises of the Russian military-industrial complex. Among them are manufacturers of Kalibr cruise missiles, MiG-35 and SU-35 combat aircraft, as well as Ka-52 helicopters.

According to SBU materials, at the beginning of February of this year, the Demurinsky Mining and Processing Plant was transferred to the state ownership of Ukraine.

As the investigation established, Shelkov covertly became the beneficial owner of the Ukrainian mining company even before the start of the full-scale invasion of the Russian Federation.

The actual management of the enterprise was carried out through the Russian monopolist in the production of titanium PJSC VSMPO-AVISMA Corporation. He carried out this activity together with the advisor to the general director of this company.

According to the investigation, it is part of the structure of the largest producers of weapons for the occupation groups of the Russian Federation, which are fighting against Ukraine.

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After February 24, 2022, Shelkov wanted to hide his relationship to industrial assets in our country to avoid sanctions.

To do this, he tried to transfer the formal management of the Ukrainian mining enterprise to a controlled commercial structure in the Dnipropetrovsk region.

However, the employees of the Security Service exposed the device, promptly blocked it and initiated the transfer of 100% of Russian property to the income of Ukraine.

On the basis of the collected evidence, the investigators of the Security Service notified Shelkov and his accomplice Fedoseev of suspicion under Part 3 of Art. 110-2 of the Criminal Code of Ukraine (financing of actions committed for the purpose of violent change or overthrow of the constitutional order or seizure of state power, change of territory or state border of Ukraine).

Since the persons involved are on the territory of Russia, comprehensive measures are being taken to bring them to justice for crimes against our state.

The investigation was conducted under the procedural guidance of the Prosecutor General’s Office and in cooperation with the State Financial Monitoring Service, the National Agency for Identification, Search and Management of Assets Obtained from Corruption and Other Crimes, the State Customs Service and the State Property Fund of Ukraine.

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