Prosecutor General’s office confiscates plant, reconsidering 1990s privatization because of Russia’s special military operation

14.02.2024, Moscow.

The Prosecutor General’s Office is demanding that three plants of the Chelyabinsk Electrometallurgical Combine (CEMC) be transferred into state ownership, claiming that the privatization, which was carried out in the 1990s, is illegal, the Kommersant newspaper wrote on February 13.

Referring to the lawsuit against the owners of the enterprises, the newspaper claims that the agency is sure of an attempt to harm Russia’s national interests. The plants’ assets were transferred out of the country, which had a negative impact on defense and security.

It is alleged that the 1992 privatization rules were violated because the decision to corporatize and transfer the plants into private hands should have been made by the Russian government. But the privatization was approved by the regional authorities.

The Prosecutor General’s Office claims that businessman Yuri Antipov, having received 100% of the shares, registered the assets in February 2023 to the Etalon Company JSC owned by him and his family.

After that, three plants of Chelyabinsk Metallurgical Plant became controlled by residents of unfriendly states, including the Canadian-Swiss RFA International.

The Prosecutor General’s Office reports that the products manufactured by the enterprises under the control of residents of unfriendly countries were intended for the production of weapons and ammunition. But they were exported from Russia to the detriment of national interests.

The products were then sold to the United States, France and the United Kingdom at undervalued prices. All three countries are pursuing an “aggressive policy” towards Russia, supplying the Kiev regime with weapons.

Source: Rossa Primavera News Agency