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Ukraine nationalizes five key companies as part of war effort

Ukrainian President Volodymyr Zelenskyy directly addresses invading Russian forces during televised remarks, March 14, 2022. (Video screenshot)

This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission.

Ukraine has taken shares of five companies identified as strategic to guarantee sufficient military supplies as it fights to repel an invasion by Russian forces.

Oleksiy Danilov, the secretary of Ukraine’s National Security Council, told a news conference in Kyiv on November 7 that the move was made under wartime laws “in connection with military necessity.”

The companies include aerospace company Motor Sich, energy company Ukrnafta, electrical transformer company Zaporizhtransformator, vehicle maker AvtoKrAZ, and oil refiner Ukrtatnafta.

“In order to meet the needs of the country under martial law, we have the right to make such decisions,” Danilov said

“The seized assets have been deemed military property, and their management was transferred to the Defense Ministry. After the end of martial law, in accordance with the requirements of the law, the specified assets may be returned to the owners or their value will be reimbursed,” he added.

Russia, which launched its unprovoked invasion of Ukraine in late February, has recently launched waves of attacks across the country, decimating civilian infrastructure such electricity and heating producers. Many across the country are bracing for a winter of total outages of power, heating, and running water.

The recent attacks came as Ukrainian forces launched counteroffensives to regain large swaths of territory in the east and south that Russia took control of early in the war.

The head of Motor Sich, Vyacheslav Boguslaev, was detained on treason charges last month amid allegations from prosecutors that he helped supply Russia with parts for helicopters and planes and of having contacts with Russian special services.

The company manufactures aircraft engines and industrial turbines. Ukrainian authorities last year blocked attempts by Chinese investors to take control of the firm.