The Arbitration Court of the Sverdlovsk Region ruled in favor of the Prosecutor General’s Office regarding the transfer of shares in the Chelyabinsk Electrometallurgical Plant (CHEMK) assets to Russian state ownership. This update was provided by RIA Novosti.
The ruling indicates that the request was fully satisfied.
Earlier, the Prosecutor General’s Office of the Russian Federation argued that three factories within the CHEMK group should be brought into state ownership because the privatization conducted in the 1990s violated Russian law. The supervisory authority asserted that the assets were moved abroad in a manner harmful to Russia’s national interests, defense, and security.
The Prosecutor General’s Office contends that businessman Yuri Antipov registered the CHEMK assets in Etalon Company JSC, a company linked to him and his family, in February 2023 after acquiring 100% of the shares. Subsequently, control of the three CHEMK plants passed to residents from unfriendly states.
President Vladimir Putin previously commented on the growth of industrial production within Russia, framing the current developments in the broader context of national economic resilience and strategic industrial policy.