"Ukrnafta may lose control over Medvedchuk's Glusco and Tatnafta gas stations: ARMA initiates termination of the contract
Kyiv • UNN
ARMA seeks to terminate contracts with Ukrnafta due to ineffective management of assets of the sanctioned pro-Russian activists Glusco and Russia's Tatneft, as the company fails to meet expected revenues to the state budget of Ukraine.
The Asset Recovery and Management Agency initiates before the Cabinet of Ministers the termination of contracts with Ukrnafta, which manages the seized assets of Glusco, a pro-Russian activist Viktor Medvedchuk's company, and the assets of the Russian company Tatneft, UNN reports.
According to ARMA, the main reason for the termination of the Glusco gas station management agreement is "Ukrnafta's deliberate rejection of ARMA's proposals to sign the acts of acceptance and transfer of the gas station assets. As a result, the company is still not a source of revenues to the state budget.
"The management agreement with PJSC Ukrnafta provides for at least UAH 5 million to be transferred to the state treasury every month, regardless of the profitability of the work and 85% of the net profit," commented Olena Duma, Head of ARMA. - For its part, the National Agency has inspected and inventoried all seized assets and prepared draft acts of acceptance and transfer for signing. I have to state that the state-owned enterprise, whose activities were intended not only to preserve economic value but also to replenish the country's budget during the war, failed to meet reasonable expectations. As a result, the purpose of the orders of the Cabinet of Ministers of Ukraine has not been fulfilled, and there is no management efficiency, although the seized gas stations are still operating.
Over the past three months, the Agency has been sending official letters to Ukrnafta demanding that the company sign acceptance certificates for its filling station property complexes, which the state-owned company has not agreed to, the statement said.
Following the government's decision, ARMA will initiate the selection of a new manager of the Glusco network, who will ensure a proper balance of public and private interests and organize predictable, transparent and profitable operations of the seized filling stations.
As a reminder, Ukrnafta started managing about 100 gas stations, oil depots and a number of vehicles owned by Russia's Tatneft on August 16, 2023.
