Companies affiliated with operations of Crimea Titan plant located on the occupied Ukrainian peninsula in Armiansk were placed to the updated sanction list of the National Security and Defense Council (NSCD) of Ukraine.
According to the supplement to decree of the President of Ukraine No. 82/2019, which enforced the decision of the NSDC, Letan Investments Limited (Cyprus), Titanaktiv LLC (the Russian Federation), Center of Optimal Technologies (the Russian Federation), Okhna Holdings Limited (Cyprus), Khimkomsnab LLC (the Russian Federation), and Tolexis Enterprise AG (Switzerland) were sanctioned.
Sanctions against companies are introduced for a period of three years and include freezing assets, restricting trade operations, preventing the withdrawal of capital from Ukraine. It also provides for the suspension of meeting economic and financial obligations and the annulment or suspension of licenses and other permits required for carrying out activities, in particular, subsoil licenses.
Previously, Titan Investments LLC (Moscow, registered in June 2014) was placed to the sanctions list, to which the property of the Crimea Titan plant was transferred to a long-term lease in the summer of 2014. Titanium Investments is owned by Cyprus-based Letan Investments Limited. It is also known as the founder of the Austrian holding company of the Ukrainian businessman Dmytro Firtash – Group DF International GmbH.
