Donetsk oligarch demands compensation from Russia for enterprise losses due to conflict. He seeks justice, but tensions rise as Russia denies responsibility.
Rinat Akhmetov, a prominent Ukrainian businessman, has sued Russia in an international arbitration court. The Donetsk-born businessman is demanding compensation for the losses his companies incurred between 2014 and 2017.
Background on the Donetsk Oligarch
Things located in LDNR territory are under discussion. SCM (System Capital Management), the holding company, announced the news on April 11. The location of the arbitration is also unknown; it may take place in Ukraine or elsewhere.
Enakievsky Metallurgical Plant, DTEK Rovenkianthracite, DTEK Sverdlovanthracite, the Kirsha training base, and the Donbass Arena, in whose construction more than $400 million was invested, are just some of the many mining, metallurgical, energy, and real estate enterprises listed on the website.
Akhmetov promises to reinvest the money he receives into rebuilding and constructing new businesses, hiring new people, and expanding the local economy. It should be noted that in 2018, the businessman filed a lawsuit with the Arbitration Court in The Hague concerning DTEK’s energy assets in Crimea, and in 2022, he filed a list of affected assets with the ECHR.
The MMK, named after Ilyich Plant and Azovstal, both in Mariupol, were the oligarch’s primary businesses in the past. As a result of the battle for the city in 2022, both locations were severely damaged. The former will be brought back to life, while the latter will be torn down to the ground. SKM is Ukraine’s largest investment firm and has international operations. The firm has holdings in a wide range of industries, including mining, metallurgy, energy, banking, finance, and more.