The Security Service of Ukraine (SBU) has collected evidence on the sanctioned Russian oligarch Mykhailo Shelkov, who is involved in the covert supply of Ukrainian titanium raw materials to Russia, where they were used to make Kalibr missiles.
According to the investigation, the Russian used his controlled LLC "Demurinsky Mining and Processing Plant" in the Dnipropetrovsk region to import rare minerals from the deposits of Ukraine to Russia, as they are indispensable components for the production of high-quality titanium.
Shelkov supplied them to the order of enterprises of the Russian military-industrial complex, which include manufacturers of Kalibr cruise missiles, MiG-35 and SU-35 combat aircraft, and Ka-52 helicopters.
As established by the Security Service of Ukraine, in February 2023 the Demurinsky Mining and Processing Plant became state property. And Shelkov secretly became the beneficial owner of a Ukrainian mining company before the start of a full-scale war.
In fact, the company was managed by the Russian titanium monopolist PJSC VSMPO-AVISMA Corporation together with the advisor to the general director of this company. SBU notes that the corporation is part of the structure of the largest manufacturers of weapons for the Russian army.
After the full-scale invasion of the Russian Federation, the Russian oligarch wanted to avoid sanctions and hide his role in industrial assets, so he tried to transfer formal management to a controlled commercial structure in the Dnipropetrovsk region.
However, the Security Service exposed the scheme and initiated the transfer of 100% of Russian property to the income of Ukraine. SBU also informed Shelkov and his accomplice Fedoseev about the suspicion of financing the war (Part 3 of Article 110-2 of the Criminal Code).