NSDC decided to return Motor Sich to the state

Anton Stolyarov

The National Security and Defense Council has decided to return Motor Sich to the Ukrainian state.

Secretary of the National Security and Defense Council Oleksii Danilov stated this at a briefing following the meeting of the Security Council.

"A proper decision has been made. According to this decision, Motor Sich will be returned to the Ukrainian people, in the ownership of the Ukrainian state in a constitutional manner soon," Danilov said.

He stressed that each issue of returning to the state defense enterprises, which were in private hands, would be considered separately.

Danilov also stressed that the former owners would necessarily receive appropriate compensation.

We do this for the national security of our country, Danilov.

As reported, the President of Ukraine Volodymyr Zelenskyi stated he wouldn't allow China or any other country to acquire a controlling stake in Motor Sich.

On September 4, 2020, Chinese investors of Motor Sich PJSC sent a notification to the Ministry of Justice of Ukraine about an investment dispute with a demand to reimburse $3.5 billion. On December 5, the Chinese party sent an appeal to the Ukrainian government for international arbitration against the state of Ukraine "under the agreement between the Government of Ukraine and the Government of the People's Republic of China on the promotion and mutual protection of investments."

The Ministry of Justice assured they were trying to reach an agreement with the Chinese party, however, investors of Motor Sich PJSC insisted on arbitration.

To recap, the general designer of JSC Motor Sich Viacheslav Bohuslaiev declared a raider capture of the enterprise.

The meeting of Motor Sich shareholders was supposed to take place on January 31, but it was intruded upon, and the SBU had to break down the door to get to the enterprise.