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Zelensky enacts Defense Council's decision on return of Motor Sich to state ownership

Source : 112 Ukraine

On January 29, President Volodymyr Zelensky imposed sanctions against the Chinese investors of Motor Sich.
22:00, 24 March 2021

President's press service

President of Ukraine Volodymyr Zelensky put into effect the decision of the National Security and Defense Council (NSDC) of March 11 on the return of Motor Sich PJSC to state ownership. The corresponding document was published on the president's website.

Related: Nationalization of Motor Sich: Five key questions and answers

"In accordance with Article 107 of the Constitution of Ukraine, I order: 1. To put into effect the decision of the National Security and Defense Council of Ukraine dated March 11, 2021 'On the status of implementation of the decision of the National Security and Defense Council of Ukraine dated March 1, 2018 'On urgent measures to protect the national interests of the state in the field of aircraft engines,' enacted by Ukrainian President's decree dated March 6, 2018 No. 58 (attached, for official use)," the document says.

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.

Related: China sends protest note to Ukraine due to sanctions against Motor Sich investors

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