SBU exposed another scheme of the Russian oligarch Shelkov. He delivered Ukrainian titanium to Russia to bypass sanctions

Sofiia Telishevska

The Security Service of Ukraine (SBU) exposed new crimes of the Russian oligarch Mykhailo Shelkov, who is involved in schemes for the supply of Ukrainian titanium raw materials to the Russian Federation.

As it turned out, Shelkov circumvented the National Security and Defense Council of Ukraine (NSDC) personal sanctions imposed on him by using a controlled company in one of the European countries for this purpose.

On paper, this foreign enterprise acted as a customer of titanium raw materials from Demurinsky Mining and Processing Plant LLC from the Dnipropetrovsk region. However, in reality, Ukrainian products were sent to Russia by rail.

Such a scheme operated before the full-scale invasion of the Russian Federation and brought the organizers millions of extra profits due to non-payment of taxes and concealment of real income.

During 2020-2021, the perpetrators caused losses to the state budget of almost 100 million hryvnias.

Shelkov was informed of suspicion under two articles of the Criminal Code of Ukraine:

  • 212 (evasion of payment of taxes, fees (mandatory payments));
  • 209 (legalization (laundering) of property obtained by crime).

On February 3, 2023, the Appellate Chamber of the High Anti-Corruption Court approved the confiscation of Demurinsky Mining and Processing Plant LLC. It belonged to the Russian billionaire Mykhailo Shelkov.