“With deep regrets, we would like to inform You that Proton Energy Group SA took a decision to cease cooperation and to stop the supply of oil products to the Ukrainian market starting from April 1, 2021…Please kindly consider this as an official termination notification. Enclosed is a termination agreement for Your approval a signature,” the letter says.
The company made such a decision after at the beginning of March 2021, it received information from one of the members of the Ukrainian Oil and Gas Association that the Security Service of Ukraine (SBU) strongly recommends the partakers of the Ukrainian oil market not to cooperate with Proton Energy Group SA and refrain from purchase of company’s oil products.
One more reason for the termination of supplies to Ukraine is the actions of the Ukrainian authorities toward Glusco filling stations owned by Glusco Energy SA and a member of the Ukrainian Oil and Gas Association.
Proton noted that in February 2021, the process scale of diesel fuel in the pipeline owned by Glusco was illegally arrested by the Ukrainian authorities.
Due to this fact, the company suffered financial losses and would like to avoid such a situation for the Ukrainian business.
Proton Energy Group S.A. Company (Switzerland) is the only supplier of Rosneft products to Ukraine since 2016. In 2020, it supplied to Ukraine 1.74 million tons of diesel fuel (23.4% of the market) to Ukraine and 443,000 tons of liquefied gas (22.3%).
Proton Energy Group S.A. Company through subsidiary company Glusco Energy S.A. owns the Ukrainian retail network Glusco.
On March 11, Ukrainian law enforcers held large-scale searches at the Glusco gas stations network. The Prosecutor General's Office stated that law enforcers have revealed the criminal gimmick with the shady sale of fuel; the overall sum of tax evasion totals almost 8.5 million dollars.