Under-sanctioned Vadym Novinsky transferred the assets of Smart Holding to the trust

Deprived of his mandate, ex-National Deputy Vadym Novinsky decided to transfer his companyʼs assets to a trust. It is the Smart Holding investment and industrial group.

This was reported by the companyʼs press service.

At the beginning of December last year, the National Security and Defense Council imposed sanctions against Novinsky.

The respective Smart Trust and Step Trust agreements were concluded in November 2022. They have already been registered by the Cyprus Securities and Exchange Commission. The proxies were highly qualified fiduciary administrators appointed in accordance with the licensing conditions of Cyprus legislation.

Therefore, trustees (trusts) currently entirely own, control and manage the assets of the group.

Now Vadym Novinsky has no beneficial participation in the group and does not control the activities of the group and its processes.

They noted that Novinsky, who has not been involved in the management of the company since 2013, decided to "concentrate his activity on private interests."

• On December 1, 2022, President Volodymyr Zelenskyi implemented the sanctions of the National Security and Defense Council against clergymen of the UOC MP and former Peopleʼs Deputy, owner of Smart Holding and co-owner of metallurgical holding "Metinvest" Vadym Novinskyi. The sanctions imposed on them will be valid for 5 years. The assets of these persons in Ukraine are blocked; they will not be able to take them abroad, nor will they be able to buy land plots, privatize state property and intellectual property rights. They are also deprived of all awards and honors.