Iron ore worth UAH 1.8 billion is transferred to ATMA

166,000 tons of iron ore with an estimated value of UAH 1.8 billion was handed over to ATMA (Asset Tracing and Management Agency). Raw materials were seized in December 2022 in several seaports of Ukraine. This is stated in the press release of the Prosecutor General’s Office.

All the iron ore is owned by a foreign company. According to the investigation, during 2021-2022, a non-resident legal entity registered in an EU country, together with Russian companies affiliated with a Russian oligarch, declared the transfer of iron ore for a total amount of more than 1.3 UAH billion.

To evade taxes and other mandatory payments paid during the import of goods to the territory of Ukraine, company officials used the so-called interrupted transit mechanism. They did not aim to export iron ore outside the country and actually shipped the goods to economic entities – residents of Ukraine, without paying customs fees. Thus, the state suffered losses in the amount of over 118 million hryvnias.

Pre-trial investigation under Part 3 of Art. 212 of the Criminal Code of Ukraine is conducted by detectives of the Bureau of Economic Security of Ukraine (BES) under the operational support of the Security Service of Ukraine.

As GMK Center reported earlier, in April 2022, BES prevented exports of ferrous metals with a total value of UAH 52 million to Russia. Earlier, at the initiative of the bureau, 17,800 railcars belonging to the Russian Federation and Belarus were seized.