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Defense Secretary: Motor Sich to be returned to Ukraine's ownership soon

Source : 112 Ukraine

Oleksiy Danilov added that the company will be returned to the ownership of the Ukrainian state in a legal, constitutional manner
18:23, 11 March 2021

Motor Sich
Open source

Zaporizhian Motor Sich Corporation will be legally returned to Ukrainian ownership in the near future. Secretary of the National Security and Defense Council Oleksiy Danilov said this during the briefing after the meeting of the council.

"...It is about Motor Sich enterprise in Zaporizhia. Today, a decision has been made to return Motor Sich enterprise to the Ukrainian people. It will be returned to the ownership of the Ukrainian state in a legal, constitutional manner soon," Danilov said.

He added that the issues concerning the enterprises of the defense and industrial complex, which ended up in private hands, will be considered separately.

"If the enterprise is strategically important to us, we will legally do it with other companies," the Secretary of the National Security and Defense Council said.

Earlier, on January 29 President Volodymyr Zelensky imposed sanctions against the Chinese investors of Motor Sich. Sanctions were imposed for three years. Among the restrictions applied are the blocking of assets, the restriction of trade operations and the prevention of capital outflows from Ukraine.

PJSC Motor Sich is one of the world's largest manufacturers of engines for aircraft and industrial gas turbines. It delivers products to more than 100 countries.

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