Court seizes stake in Ukrainian metallurgical giant from ex-MP Viktor Medvedchuk’s wife

25 April, 02:00 PM
Oksana Marchenko (

Oksana Marchenko (

A court has seized shares in a Ukrainian metallurgical giant, the Zaporizhzhya Ferroalloy Plant, from Viktor Medvedchuk’s wife Oksana Marchenko, Ukraine’s SBU security service said on April 25.

The court’s decision concerns Marchenko’s 13.7% stake in the company, which she owns through four offshore companies.

The total value of the seized assets is more than UAH 1 billion ($27.3 million), the SBU said. Marchenko is suspected of using income from the plant to finance Russian invasion forces.

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The Zaporizhzhya Ferroalloy Plant is the monopoly producer of metallic manganese in Ukraine and is among the largest metallurgical companies in Europe.

The SBU noted in its report that the seizure of the assets will prevent them from being sold or re-registered, allowing their transfer to the state.

The SBU reported on Feb. 23 that a court had seized assets of Marchenko worth over UAH 5.6 billion ($152 million).

SBU investigators have pressed charges against Marchenko for “financing actions committed with the aim of violent change or overthrow of the constitutional order, seizure of state power, or changing the state border of Ukraine” (Part 3 of Article 110-2 of Ukraine’s Criminal Code).

Investigations are ongoing to bring to justice all persons involved in the criminal schemes, the SBU said.

The investigation was conducted by SBU officers in Ivano-Frankivsk Oblast, under the guidance of the regional prosecutor’s office.

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