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The Office of the President again started talking about sanctions and confiscation of Kyivstar

    Deputy Head of the Presidential Office Rostislav Shurma spoke about the likelihood of introducing sanctions against the Kyivstar company, the largest mobile operator in Ukraine. Also, in an interview with Economic Pravda, he did not rule out that in the future the operator will be confiscated in favor of the state.

    Shurma emphasized that this is not his personal decision, but the result of a collective analysis carried out by several institutions. This issue is currently being studied by lawyers.

    Let us remind you that information about the arrest of 100% of the corporate rights of Kyivstar appeared on the SBU website on October 6, 2023, but later the Shevchenkovsky District Court of Kiev clarified its decision, indicating that only 47.85% of the corporate rights were subject to arrest. These shares allegedly belong to persons subject to sanctions.

    Later, the Dutch holding Veon filed an appeal against the court decision to seize the shares of the mobile operator.

    It also recently became known that former US Secretary of State Mike Pompeo has joined the Kyivstar board of directors as an independent non-executive director.

    Position of the Kyivstar company

    “Kyivstar is 100% owned by the global digital operator VEON, which is a public company, and none of its direct shareholders are sanctioned by the US, EU or UK. The clarification from the US Treasury Department indicates that the company that owns 47.8% of the shares of VEON (Luxembourg investment fund LetterOne) is not under sanctions. Since February 2022, any influence of LetterOne representatives on VEON’s activities is limited, and VEON’s activities are governed by a board of directors, which consists of independent board members. Accordingly, VEON petitioned the court in Ukraine to lift the seizure of the share of Kyivstar’s corporate rights, which was imposed in accordance with the decision of the Shevchenkovsky District Court. Now Kyivstar is awaiting consideration of the application.”