The assets of the manager of Lifosos have been seized at the request of a Ukrainian company due to the company's alleged support of Russia's invasion of Ukraine.
The manager of Lifosos is encountering significant difficulties after an Amsterdam court ruled in favor of a Ukrainian mining company, which requested the seizure of assets belonging to the "EuroChem Group," a Russian company allegedly supporting Russia's invasion of Ukraine. The court ordered the seizure of 100% of "EuroChem Group" shares and €556,700 from its ING Bank account, highlighting the legal and economic ramifications for companies involved in the ongoing conflict.
"Avtodorkomplekt," the Ukrainian company initiating the lawsuit, claims it lost its ability to operate in the granite extraction business due to the war instigated by Russia, while also citing the seizure of its own assets. This lawsuit is part of a broader legal effort against over 30 Russian and European firms, including EuroChem, with the Ukrainian company seeking damages amounting to €910 million in the Zaporizhia Regional Court. The case underscores the challenges facing businesses amid international sanctions and legal actions stemming from the war.
Experts indicate that the agricultural sector is particularly affected, describing the current situation as unprecedented. This legal action against "EuroChem Group" may be a significant turning point, impacting not only the companies involved but also the broader context of international business relations and the economic consequences of the ongoing war in Ukraine.
