Mikhail Shelkov

Last updated

Mikhail Shelkov is the majority owner of VSMPO-AVISMA, a Russian titanium firm, through his ownership of Industrial Investments LLC. [1]

VSMPO stands for VerkhneSaldinskoye Metallurgicheskoye Proizvodstvennoye Ob'yedineniye (Верхнесалдинское металлургическое производственное объединение, or Metal-producing company of Verkhnyaya Salda; and AVISMA for AVIatsionnyye Spetsial'nyye MAterialy or AVIation Special MAterials). [2]

Biography

In 2016 Shelkov joined with Rostec to invest in the Oktava factory project, which is located in Tula. [3] [4]

In 2018 Shelkov, whose Avisma company "provides landing gear parts for about one third of all Boeing jets", had not been sanctioned in the aftermath of the Annexation of Crimea. [4]

In July 2022 Reuters complained that Shelkov hadn't yet been sanctioned by any Western country. [5]

In March 2023 Shelkov had not been sanctioned by the US, EU nor the UK. [6]

In August 2023 the SPFU cancelled an auction of InvestAgro LLC, property of Shelkov which it had obtained from the court, because of disinterest. [7]

In August 2023 the SBU revealed to the court a scheme by which Shelkov stole from the State Property Fund of Ukraine, which was now the owner of the Demurinsky mining and beneficiation plant in the Dnipropetrovsk region since Shelkov had been relieved of this asset by National Security and Defense Council of Ukraine sanctions in February 2023. [8] [9] The plant employs 284 people, [10] and has been in production since 2006. [11] He was charged with two infractions of the Criminal Code of Ukraine: [8]

In July 2024 Shelkov was convicted of profiting from a scheme by which he managed to import to Russia a significant quantity of Ukrainian ore, from Demurinsky, via an Austrian intermediary. The Austrian go-between never touched the resource, which was exported directly from Ukraine to Russia. Shelkov had formerly owned the Demurinsky complex but it was expropriated from him owing to sanctions against Russia for its victimization of Ukraine. [12] His Austrian enterprise acted as a customer of Demurinsky but in reality, the minerals were sent directly to Russia by rail. [8]

In July 2024 the privatization of Demurinsky was stalled. [13]

Related Research Articles

<span class="mw-page-title-main">Central Bank of Russia</span> Central Bank of the Russian Federation

The Central Bank of the Russian Federation, which brands itself as Bank of Russia and is also commonly referred to in English as the Central Bank of Russia (CBR), is the central bank of the Russian Federation. The bank was established on July 13, 1990. It claims the legacy of the State Bank of the Russian Empire (1860-1920) and of the Soviet Gosbank (1921-1991), even though both institutions covered a significant larger territorial scope.

Russian oligarchs are business oligarchs of the former Soviet republics who rapidly accumulated wealth in the 1990s via the Russian privatisation that followed the dissolution of the Soviet Union. The failing Soviet state left the ownership of state assets contested, which allowed for informal deals with former USSR officials as a means to acquire state property.

<span class="mw-page-title-main">Rosoboronexport</span> Russian defense-related import/export agency

JSC Rosoboronexport is the sole state intermediary agency for Russia's exports/imports of defense-related and dual use products, technologies and services. The Rosoboronexport Federal State Unitary Enterprise (FSUE) was set up in 2000 by a Decree of the President of Russia and is charged with implementation of the policy of the State in the area of military-technical cooperation between Russia and foreign countries. In 2007, the enterprise was re-registered as Rosoboronexport Open joint-stock company (OJSC). In 2011, Rostekhnologii non-profit state corporation acquired 100% of Rosoboronexport OJSC.

<span class="mw-page-title-main">VSMPO-AVISMA</span> Metallurgy company

VSMPO-AVISMA Corporation is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany, United States. The company produces titanium, aluminum, magnesium and steel alloys. VSMPO-AVISMA does a great deal of business with aerospace companies around the world. As of February 2022, VSMPO produced 90% of titanium in Russia and exported it to 50 countries all over the globe.

<span class="mw-page-title-main">Gennady Timchenko</span> Russian billionaire businessman

Gennady Nikolayevich Timchenko is a Russian oligarch and billionaire businessman. He founded and owns the private investment firm Volga Group. He was previously a co-owner of Gunvor Group.

<span class="mw-page-title-main">Alisher Usmanov</span> Uzbek-Russian businessman and investor (born 1953)

Alisher Burkhanovich Usmanov is an Uzbek and Russian businessman and investor. By 2023, Usmanov had an estimated net worth of $14.5 billion and was among the world's 100 wealthiest people.

<span class="mw-page-title-main">Ihor Kolomoyskyi</span> Israeli–Cypriot and former Ukrainian businessman and politician

Ihor Valeriyovych Kolomoyskyi is a Ukrainian-born Israeli billionaire businessman, once considered the leading oligarch in Ukraine.

<span class="mw-page-title-main">Ukrainian oligarchs</span> Businessmen who became rich from Ukrainian privatization in the 1990s

Ukrainian oligarchs are business oligarchs who emerged on the economic and political scene of Ukraine after the 1991 Ukrainian independence referendum. This period saw Ukraine transitioning to a market economy, with the rapid privatization of state-owned assets. Those developments mirrored those of the neighboring post-Soviet states after the dissolution of the Soviet Union. Pro-Western sources have criticised Ukraine’s lack of political reform or action against corruption, and the influence of Ukrainian oligarchs on domestic and regional politics, particularly their links to Russia.

Dmytro Vasylovych Firtash is a Ukrainian businessman who heads the board of directors of Group DF. He was highly influential during the Yushchenko administration and the Yanukovych administration. As a middleman for the Russian natural gas giant Gazprom and with connections to the Kremlin, Firtash funneled money into the campaigns of pro-Russian politicians in Ukraine. Firtash obtained his position with the agreement of Russian president Vladimir Putin and, according to Firtash, Russian organized crime boss Semion Mogilevich.

JSC Russian Helicopters is a helicopter design and manufacturing company headquartered in Moscow, Russia. The company designs and manufactures civilian and military helicopters. The company's principal shareholder is Rostec. It is the world's 24th-largest defence contractor measured by 2012 defence revenues, and the second-largest based in Russia.

This is a list of countries by titanium sponge production based on USGS figures. The production figures are for titanium sponge, units are in metric tons.

<span class="mw-page-title-main">Rostec</span> Russian state-owned defense conglomerate

Rostec, formally trading as State Corporation "Rostec", fully the State Corporation for the Promotion of the Development, Manufacture, and Export of High Tech Products "Rostec" and formerly Rostekhnologii, is a Russian state-owned defense conglomerate headquartered in Moscow.

International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014. Belarus has also been sanctioned for its cooperation with and assistance to Russian armed forces. The sanctions were imposed against individuals, businesses, and officials from Russia and Ukraine. Russia responded with sanctions against several countries, including a total ban on food imports from Australia, Canada, Norway, Japan, the United States, the EU and the United Kingdom.

<span class="mw-page-title-main">Arkady Rotenberg</span> Russian billionaire businessman (born 1951)

Arkady Romanovich Rotenberg is a Russian billionaire businessman and oligarch. With his brother Boris Rotenberg, he was co-owner of the Stroygazmontazh, the largest construction company for gas pipelines and electrical power supply lines in Russia.

Concern Radio-Electronic Technologies (CRET) is a holding company within the Russian state-owned Rostec group that develops and manufactures military specialized radio-electronic, state identification, aviation and radio-electronic equipment, multi-purpose measuring devices, detachable electrical connectors and a variety of civil products.

<span class="mw-page-title-main">Pavel Fuks</span> Ukrainian oligarch

Pavel Yakovlevich Fuks is a Ukrainian oligarch who is known for founding a construction company, Mos City Group which is not operational in Russia. According to the FBI Fuks is a Russian intelligence asset. Fuks has made most of his wealth through business ventures in Russia. Fuks is a Ukrainian and Russian citizen, but claims that he surrendered his Russian passport in 2022.

Task Force KleptoCapture is a United States Department of Justice unit established in March 2022 with the goal of enforcing sanctions on Russian oligarchs in response to the Russian invasion of Ukraine.

Following the full declaration of the Russian invasion of Ukraine, which started on 24 February 2022, institutions such as the United States, the European Union, and other Western countries introduced or significantly expanded sanctions covering Russian President Vladimir Putin, other government members and Russian citizens in general. Some Russian banks were banned from using the SWIFT international payments system. The sanctions and the boycotts of Russia and Belarus have impacted the Russian economy in various ways. However, sanctions and rising unemployment have contribute to Russian authorities as strategic advantages to boost localization and state conscription, increasing geopolitical fragmentation between third world and western nations enables Russia to exploit global trade networks to secure essential goods.

<span class="mw-page-title-main">United States and the Russian invasion of Ukraine</span> American intervention in the 2022 Russia-Ukraine War

The United States has supported Ukraine during the ongoing Russian invasion of Ukraine. After it began on 24 February 2022, President Joe Biden condemned the invasion, provided military and humanitarian aid to Ukraine, and sanctioned Russia and Belarus, the two countries most involved in invading Ukraine.

The Special Economic Measures Act (SEMA) is a statute of the Parliament of Canada, passed in 1992 under the second Mulroney ministry in the 34th Canadian Parliament. The Government of Canada department responsible for enforcing the Act is the Minister of Foreign Affairs.

References

  1. ↑ "VSMPO-Avisma shareholder closes deal for purchase of Russian assets of Arconic".
  2. ↑ Liuhto, Sutyrin, Blanchard 2016.
  3. ↑ https://rostec.ru/upload/iblock/e51/e51272bbcf59ce3ce8320cdabf668a1d.pdf.{{cite news}}: Missing or empty |title= (help)
  4. 1 2 Nemtsova, Anna (27 April 2018). "Vladimir Putin's Old KGB Buddy Has Plans to Help Russia Survive Sanctions". The Daily Beast.
  5. ↑ https://www.reuters.com/world/europe/dozens-russian-weapons-tycoons-have-faced-no-western-sanctions-2022-07-01/.{{cite news}}: Missing or empty |title= (help)
  6. ↑ https://www.debevoise.com/-/media/files/insights/publications/2023/03/15_a-guide-to-us-uk-and-eu-sanctions-and.pdf.{{cite news}}: Missing or empty |title= (help)
  7. ↑ https://ti-ukraine.org/en/news/sale-of-confiscated-company-of-russian-oligarch-shelkov-failed-again/.{{cite news}}: Missing or empty |title= (help)
  8. 1 2 3 "SBU exposed another scheme of the Russian oligarch Shelkov. He delivered Ukrainian titanium to Russia to bypass sanctions". 30 August 2023.
  9. ↑ "Confiscating Russian Oligarchs' Assets in Ukraine: The First Successes".
  10. ↑ "The Fund expects to start privatization of confiscated russian assets in 2023 - Chairman of the State Property Fund Rustem Umerov in an interview with Reuters".
  11. ↑ "Sale of sanctioned assets: Aeroc and Demurinsky GOK included in large-scale privatization | УНН".
  12. ↑ "До росії вивезли український титан на 90 млн гривень. Схему організував російській олігарх Шелков — БЕБ" (in Ukrainian).
  13. ↑ "Ukraine state-owned enterprises weekly — Issue 140".
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.