The Russian company has lost millions over Ukraine

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Photo: Oleg Karsaev / “Kommersant”

The Russian company “EuroChem”, producing agrochemical products, suffered losses in the amount of 25 million dollars as a result of restrictive measures by Ukraine. As stated in the financial statements of EuroChem for the first half of 2018, in may, the Board of Directors decided to sell two owned by Ukraine of the company for $ 53 million.

“The remuneration is payable after five years present value amounted to 29,397 million dollars. The group recognised a loss on disposal in the amount of 25.26 million dollars”, — the document says.

Data on the purchaser of Ukrainian assets “EuroChem” will not be displayed. It is assumed that it was the company related to former management the group’s subsidiaries.

Earlier, Russia won in a dispute with Ukraine in the framework of arbitration at the world trade organization (WTO) on the introduction of Kiev anti-dumping duties on imports of ammonium nitrate (ammonium nitrate) from Russia. In particular, the WTO ruling said that the Ukrainian authorities are inconsistent and illegally put pressure on EuroChem.

The dispute between Moscow and Kiev on this issue lasted from may 2015, when Russia challenged the protectionist duties. Kiev has imposed prohibitive duties on Russian deliveries of mineral fertilizers, which grew three times from 11.91 to 36.03 percent in July 2014.

The Russian side insisted that Kiev had deliberately understated the market value of the gas (necessary for the production of ammonium nitrate) in Russia to introduce anti-dumping duties.

Video, photo All from Russia.



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