Russia's VTB Bank said on Tuesday that a Ukrainian company's agreement to pledge an oil refinery in Odessa as collateral for a loan is fully compliant with Ukrainian legislation.
Russian newspaper Kommersant said in March that Vetek, the refinery's previous owner, transferred the plant to VTB after failing to repay the loan it had taken out to buy the plant from Lukoil last year, Reuters reports.
"In effect, what some Ukrainian representatives are proposing is the expropriation of collateral belonging to the bank," VTB said. "Such unlawful actions could push Russia into a response that would be harmful to trade and economic relations between the two countries. Responsibility in this case would lie wholly on the Ukrainian side."
Arsen Avakov, the interior minister of Ukraine, said the interim government wants to return control of the Odessa oil refinery to Kiev.
Vetek is owned by Ukrainian tycoon Serhiy Kurchenko who earned his fortune under the presidency of ousted leader Viktor Yanukovych. Ukraine's prosecutor general issued an warrant for Kurchenko's arrest in March on the grounds of stealing state property.
Avakov said the police seized thousands of tons of refined oil products belonging to Kurchenko's companies. Kurchenko left Ukraine in February, Reuters reports.
- BTA BANK - KAZAKHASTAN: JSC BTA Bank rating assignment
- BNP PARIBAS - UKRAINE: UKRSIBBANK Deifnes A Panel of Judges for the Climate Changemakers Awards
- ASIAN DEVELOPMENT BANK: ADB has allocated US $ 78 million to improve sections of regional roads in the Kyrgyz Republic
- ARMECONOMBANK - ARMENIA: Armeconombank Participates in Expo Dedicated to "International Day of Savings"
- ARMSWISSBANK - ARMENIA: ARMSWISSBANK CJSC Made a Payment of AMSWISB23ER3 Corporate Coupon Bond
- ANELIK BANK - ARMENIA: IDBank will pay 50 children for rehabilitation courses
- AMERICAN CHAMBER OF COMMERCE IN KAZAKHSTAN: International Centre for Parliamentary Studies: Strategic Management and Leadership programme - 4th - 8th March 2019 | London, UK
- AG BANK: AGBank has prepared 2 new campaigns for its valuable customers
- THE WORLD BANK: Jobs of the future require more investment in people
- VTB BANK - ARMENIA: VTB acquires Sarovbusinessbank