The Prosecutor General’s Office is pursuing the transfer of three units of the Chelyabinsk Electrometallurgical Plant (CHEMK) into state ownership, arguing that the privatization conducted in the 1990s violated legal procedures. This appears in the business press, with Kommersant reporting a lawsuit filed against the plant’s owners.
The supervisory authority contends that the facilities were moved outside Russia to undermine the country’s core interests, defense posture, and security framework. Under the 1992 privatization rules, the move to corporatize the factories and shift them into private hands should have been approved by the Russian government; instead, regional authorities gave the green light, circumventing the central decision pipeline.
Additionally, the Prosecutor General’s Office notes that businessman Yuriy Antipov registered assets in Etalon Company JSC—owned by him and his family—in February 2023, after acquiring 100% of the shares. Since then, three CHEMK factories have fallen under the control of residents from nations considered unfriendly. The involvement of Canada-Swiss group RFA International is cited in relation to these corporate arrangements.
According to the Prosecutor General’s Office, products intended for the manufacture of weapons and ammunition—produced by plants now under the control of residents from unfriendly countries—are reportedly exported to the United States, France, and the United Kingdom at preferential rates. The authorities claim these sales support an aggressive policy toward the Russian Federation and its allies and suppliers to Ukraine.
There have been other high-profile fiscal actions recently, including reports from Moscow about the freezing of accounts belonging to a former Deputy Minister of Energy, in a case that involved sizeable sums. This broader economic backdrop is cited as context for renewed scrutiny of state and private sector asset movements and their potential impact on national security interests.
Overall, the case reflects ongoing tensions between privatization-era restructurings and current state oversight, with the government asserting a need to restore control over strategic industrial capacity. The conduct of asset transfers, the nationality of controlling stakeholders, and the ultimate use of produced goods are all under close examination as part of a wider effort to align industrial assets with Russia’s security and strategic objectives. The developments continue to unfold through court proceedings and official statements, shaping expectations for how privatization-era properties might be realigned in the future, and what safeguards will be used to ensure compliance with national interests (Citation: Kommersant).