UKRPROMINVEST-AGRO assures having no business in Russia

The company UKRPROMINVEST-AGRO states that it does not carry out operations in the territory of the Russian Federation and does not pay taxes to the Russian budget.

The company noted that in 2012 they started an agricultural project in Russia to produce modified starch together with an international company. Credit funds were attracted for project implementation. But because of Russian aggression against Ukraine, the project was not implemented. In 2014, it was decided to terminate the project in Russia. During 2014-2016, corporate rights and land were sold, agricultural machinery was exported to Ukraine and workers were dismissed.

"The company Krakhmaloprodukty and its subsidiary Lucky Grain are not currently owned by UKRPROMINVEST-AGRO, and, as far as it is known, do not conduct commercial activities, do not pay taxes in Russia. The companies are in arrears in credit and are actually bankrupt. So, the project in Russia was not launched and, for obvious reasons, could not be launched," the company says.