Accounts of Ukraine's Suspilne TV company frozen

Source : 112 Ukraine

The medium may not be able to broadcast the events of 2020 Winter Olympics; the reason for freezing the assets is the huge debt that the company owes Euronews stock corporation
13:14, 28 February 2020

112 Agency

The court arrested the assets of Suspilne TV company, the public broadcaster in Ukraine. The reason for such a move is the debt that Suspline owes to Euronews stock corporation; it makes 10,591,224.78 Euros. Another USD 3,000 of court fee is charged in favor of Euronews.

"The cooperation of former state-run National TV company of Ukraine and Euronews kicked off in 2010, yet before the Suspline broadcaster was created. Later, [the government] stopped to allocate funds to provide the license payments under the agreement on the creation of the Ukrainian edition of Euronews. This resulted in the debt and respective court procedure", reads the message.

If the assets are not unblocked, the medium will not be able to prepare for the broadcasting of Olympics 2020. Suspilne claims that the arrest will lead to a full stop in the TV channel's activities in the very near future.

Related: Ukraine's Government to fund Suspilne TV, - President's Office

Suspilne turned to the Cabinet of Ministers for assistance.

According to Zurab Alasania, the Head of Directors' Board, the debt emerged because former President Viktor Yanukovych wanted to create the Ukrainian edition of Euronews TV channel by 2020. Then, the agreement was signed for six years, which breached the law of Ukraine; according to it, such agreements could be only signed for one year. The deal foresaw that the one-time payment made 8.5 million Euros and then 5.2 million annually. In 2010-2013, the government spent over 20 million Euros; in the second half of 2013, the payments ceased. In 2015, the deal was broken, and the debt exceeded the sum of 10.5 million Euros.

Related: 112 Ukraine ranked first among Ukraine's news broadcasters in Q3 2019

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