Mikhail Shelkov
Mikhail Shelkov is the majority owner of VSMPO-AVISMA, a Russian titanium firm, through his ownership of Industrial Investments LLC.[1]
VSMPO stands for VerkhneSaldinskoye Metallurgicheskoye Proizvodstvennoye Ob'yedineniye (Верхнесалдинское металлургическое производственное объединение, or Metal-producing company of Verkhnyaya Salda; and AVISMA for AVIatsionnyye Spetsial'nyye MAterialy or AVIation Special MAterials).[2]
Biography
In August 2023 the SBU revealed to the court a scheme by which Shelkov stole from the State Property Fund of Ukraine, which was now the owner of the Demurinsky mining and beneficiation plant in the Dnipropetrovsk region since Shelkov had been relieved of this asset by National Security and Defense Council of Ukraine sanctions in February 2023.[3][4]
In July 2024 Shelkov was convicted of profiting from a scheme by which he managed to import to Russia a significant quantity of Ukrainian ore, from Demurinsky, via an Austrian intermediary. The Austrian go-between never touched the resource, which was exported directly from Ukraine to Russia. Shelkov had formerly owned the Demurinsky complex but it was expropriated from him owing to sanctions against Russia for its victimization of Ukraine.[5]
References
- ^ "VSMPO-Avisma shareholder closes deal for purchase of Russian assets of Arconic".
- ^ Liuhto, Sutyrin, Blanchard 2016.
- ^ "SBU exposed another scheme of the Russian oligarch Shelkov. He delivered Ukrainian titanium to Russia to bypass sanctions". 30 August 2023.
- ^ https://www.rusi.org/explore-our-research/publications/commentary/confiscating-russian-oligarchs-assets-ukraine-first-successes.
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