Roshen factory's Russian assets confiscated amid court ruling

The shares of the well-known Lipetsk Confectionery Factory Roshen JSC, owned by former Ukrainian President Petro Poroshenko, have been transferred to the ownership of the Russian Federation. In February, the court declared Petro Poroshenko and his son extremists, banning their activities in Russia.

Bailiffs transferred the shares of JSC Lipetsk Confectionery Factory Roshen to the state, reports "Kommersant." Thus, Russia has confiscated the company's assets, owned by former Ukrainian President Petro Poroshenko and his son Aleksey.

Dmitry Aristov, Director of the Federal Bailiffs Service, reported the task to RIA Novosti. As we wrote on money.pl, the confiscation process began in the second half of February.

This is a decision by the Lipetsk Oblast Russian court. According to the newspaper, the court banned the activities of Petro Poroshenko, his son Aleksey, and the general director of the factory Oleg Kazakov in Russia, "deeming them extremists."

Poroshenko owns facilities in Ukrainian cities Kyiv, Vinnytsia, Ivankiv, and Kremenchuk, as well as in Budapest, Hungary, and Klaipėda, Lithuania.

The assets of the Roshen confectionery plant in the Russian city of Lipetsk were seized in 2014 under the pretext of a criminal case regarding alleged tax refund fraud. In 2017, the operation of the sweets factory in Lipetsk was suspended.

Roshen produces more than 350 types of confectionery products, including chocolate, jellies, caramels, toffees, chocolate bars, cookies, wafers, sponge rolls, and cakes. The total production volume reaches approximately 360,000 tonnes annually. The company is best known for its "Kyiv Vechirniy" chocolates and the famous "Kyiv Cake."

40% of the exports used to go to the Russian market. Still, after the Euromaidan events, in which Poroshenko was said to be involved, and the subsequent annexation of Crimea, Russia banned imports and initiated a campaign against the Lipetsk factory.

Today, Roshen sells to 43 countries worldwide, including EU countries, Asia, North and South America, and Africa. Sweets also reach Kazakhstan, Belarus, Kyrgyzstan, Moldova, and China.

The name Roshen is a contraction of the surname Petro Poroshenko.