Military

Ukrainian Court Seizes Aerospace Company Motor Sich From Chinese Investors

March 22, 2021Coffee or Die
Motor Sich AI-322F turbofan engine for light combat aircraft, ‘Zbroya ta Bezpeka’ military fair, Kyiv, Ukraine, 2018. Photo by VoidWanderer via Wikimedia Commons.

Motor Sich AI-322F turbofan engine for light combat aircraft, ‘Zbroya ta Bezpeka’ military fair, Kyiv, Ukraine, 2018. Photo by VoidWanderer via Wikimedia Commons.

This article was originally published March 20, 2021, by Radio Free Europe/Radio Liberty


A Ukrainian court has seized the assets and all the shares of aerospace company Motor Sich, one of the world’s largest producers of engines for helicopters and planes.


Ukraine’s state security service SBU said in a statement on March 20 that a Kyiv court ruled to seize all property and shares of Motor Sich, and the company was transferred to a government body responsible for managing assets obtained through corruption and other crimes.


The move to seize the jet engine manufacturer is likely to irk China but please the United States, Ukraine’s chief foreign backer against Russian aggression.


In January, the United States blacklisted Chinese aviation firm Skyrizon, which has sought to acquire a controlling stake in Motor Sich, and said the firm’s “predatory investments and technology acquisitions in Ukraine represent an unacceptable risk of diversion to military end use” in China.


‘Matter Of National Security’


Two weeks later, Ukrainian President Volodymyr Zelenskiy signed a decree imposing sanctions on four Chinese companies including Skyrizon that were seeking to gain control of the aerospace firm.


“It’s not just about the fate of one company, but about how the state is able to protect its own interests. After all, the preservation of Motor Sich is a matter of national security,” SBU chairman Ivan Bakanov said in the statement.


Motor Sich has been under investigation for crimes related to benefiting Russia and violations of the law during the initial privatization and subsequent illegal concentration of shares.


Earlier this month, Ukraine’s Security and Defense Council announced plans to nationalize Motor Sich due to its strategic importance to national defense. Zelenskiy’s ruling party then told parliament this month that it would submit a bill on nationalizing Motor Sich.


In December, the Chinese investors behind Skyrizon filed a $3.5 billion arbitration case against Ukraine, accusing Kyiv of expropriating its investment in Motor Sich after the government froze its shares in the company in 2018.


Motor Sich makes engines for helicopters and aircraft. It also makes engines that can be used for cruise missiles and drones.


Copyright (c)2021 RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036.



Coffee or Die
Coffee or Die

Coffee or Die is Black Rifle Coffee Company’s online lifestyle magazine. Launched in June 2018, the magazine covers a variety of topics that generally focus on the people, places, or things that are interesting, entertaining, or informative to America’s coffee drinkers — often going to dangerous or austere locations to report those stories.

More from Coffee or Die Magazine
Coffee Or Die Photo
Get Your Viking On: The Exclusive 30 Sec Out BRCC Shirt Club Design

Thirty Seconds Out has partnered with BRCC for an exclusive shirt design invoking the God of Winter.

Grizzly Forge BRCC shirt
Limited Edition: Grizzly Forge Blades on an Awesome BRCC Shirt

Lucas O'Hara of Grizzly Forge has teamed up with BRCC for a badass, exclusive Shirt Club T-shirt design featuring his most popular knife and tiomahawk.

BRCC Limited Edition Josh Raulerson Blackbeard Skull Shirt
From Naval Service to Creative Canvas: BRCC Veteran Artist Josh Raulerson

Coffee or Die sits down with one of the graphic designers behind Black Rifle Coffee's signature look and vibe.

Medal of Honor is held up.
Biden Will Award Medal of Honor to Army Helicopter Pilot Who Rescued Soldiers in Vietnam Firefight

Biden will award the Medal of Honor to a Vietnam War Army helicopter pilot who risked his life to save a reconnaissance team from almost certain death.

dear jack mandaville
Dear Jack: Which Historic Battle Would You Want To Witness?

Ever wonder how much Jack Mandaville would f*ck sh*t up if he went back in time? The American Revolution didn't even see him coming.

west point time capsule
West Point Time Capsule Yields Centuries-Old Coins

A nearly 200-year-old West Point time capsule that at first appeared to yield little more than dust contains hidden treasure, the US Military Academy said.

Ouija Board aircraft carrier
Low-Tech ‘Ouija Boards’ Have Helped Aircraft Carriers Operate for Decades

Since the 1920s, a low-tech tabletop replica of an aircraft carrier’s flight deck has been an essential tool in coordinating air operations.

  • About Us
  • Privacy Policy
  • Careers
Contact Us
Contact Us
© 2024 Coffee or Die Magazine. All Rights Reserved