The Arbitration Court of the Ivanovo Region has issued a ruling regarding the shares of the Ivanovo Heavy Machine Tool Plant, transferring ownership to the Russian Federation in connection with a case overseen by the Deputy Prosecutor General of the Russian Federation. Court documents indicate that the request from the supervisory authority will be fully satisfied by this decision.
Prior to this ruling, the Deputy Prosecutor General filed a petition asking for the plant’s shares to be transferred into state ownership. The action followed concerns about irregularities observed during the privatization process, with officials arguing that those irregularities could undermine national interests and security if left unaddressed.
Earlier in the sequence, the Prosecutor General’s Office sought the transfer of three facilities belonging to the Chelyabinsk Electrometallurgical Plant, known as CHEMK, into state ownership as a remedy for alleged illegitimate privatization actions conducted during the 1990s. The office asserted that the assets had been moved out of Russia, arguing that such transfers posed risks to the country’s defense and security interests.
At another point, President Vladimir Putin publicly stated that the move toward collective state ownership should proceed in a lawful and controlled manner. His remarks underscored the need for any transfer to be carried out under the applicable legal framework and oversight, reflecting a broader stance on safeguarding strategic assets.
Subsequent discussions reiterated the principle that any deprivation of property or shift in ownership must occur strictly in accordance with the law, ensuring due process and compliance with established procedures. The emphasis has remained on lawful execution and on protecting national interests as part of a transparent state approach to managing critical enterprises.