NIBULON refutes information on illegal grain exports

Information that NIBULON uses illegal schemes of grain export via its elevators is not true, the company states.

Previously, a number of resources spread the information that in Poltava region the police uncovered a scheme of illegal export of "black grain" to the Baltic countries and Uzbekistan. Export was carried out through the elevators of the companies Kernel and NIBULON.

"Transparent and honest activity of the company, our struggle against the black market of grain and other activity in defending the state positions, as a rule, are the reason for the appearance of biased articles against us," the company stresses.

The company notes that the criminal proceedings referred to in the reports, which was initiated in 2015, was closed the same year in connection with the absence of the criminal offense in the actions of the director of Ukrainian Grain Trading Company.

"According to the results of a counter check conducted by the Head Office of the State Fiscal Service in Poltava region regarding the economic relations of Ukrainian Grain Trading Company with NIBULON, tax officers did not find violations of tax or other legislation," the report says.

NIBULON stated, that during the customs clearance of export operations, bodies of the SFS have never found violations of export legislation. There have been no export operations with companies from Uzbekistan or the Baltic countries for more than 20 years.

In addition, the company reminded that it is actively cooperating with leading international financial institutions, and the emergence of such situations is both reputational risks and potential losses for NIBULON.