Odesa Prosecutor’s Office handed over 2.5 ths t of Metaloinvest’s seized iron ore to ARMA

The Odesa Regional Prosecutor’s Office handed over 2.5 thousand tons of iron ore of the Russian steel company Metaloinvest, which was seized at the beginning of 2023, to Asset recovery and management agency (ARMA). The total cost of raw materials is estimated at UAH 10 million. This is stated in the prosecutor’s office press release.

Economic entities of the Russian Federation imported iron ore into the customs territory of Ukraine and planned to transport it by sea to third countries for the purpose of its further sale. It was not possible to sell the goods, because the law enforcement officers discovered the hidden raw materials on the territory of one of the Odesa railway stations and seized them during searches.

Raw materials were transferred to ARMA for sale. Funds from the sale of iron ore pellets will be used in the interests of Ukraine.

As GMK Center reported earlier, in December 2022, detectives of Ukrainian Economic Security Bureau (ESB) seized 166,000 tons of iron ore owned by the company of a Russian oligarch. The estimated value of the seized raw materials is about UAH 1.8 billion. In February 2023, arrested iron ore was transferred to ARMA.

Also, on April 12, 2023, the US imposed sanctions against Russian Metaloinvest. The company’s subsidiaries, in particular, Lebedynskyi Mining, Mykhailivskyi Mining, OEMK and Swiss Metaloinvest Trading also got into Western sanctions.