Akhmetov’s SCM refutes control over assets in Crimea

“Currently, SCM neither controls nor manages any of the assets in Crimea which had been owned by the Company before the annexation,” reads the official statement of SCM, refuting any involvement in the control over the assets located in Crimea.

As noted, following the annexation of Crimea, SCM’s assets were "nationalised" by the local authorities, of which the public was informed promptly. With regard to the assets located in the Crimea, each of them was taken under "temporary administration", including Novy Kuchuk Koi real estate (3 March 2017) and Bereg Children's Recreation Camp (3 March 2017).

“When de facto authorities in the Crimea put our property out for auction, it is the ultimate cynicism and non-professionalism to claim that we continue to control the assets in Crimea,” the statement underscores.

It is informed that Ay Danil Recreation Centre was not a part of SCM before the annexation of Crimea by Russia and is not part of SCM Group now. SCM has never had any relation to this asset and there is no evidence to support the claim that it is within the scope of SCM Group’s business.

The company views any transactions with the SCM’s assets in Crimea (sale, putting up for action, etc.) as unlawful and a violation of international law.

SCM underscores that it continues exercising all available legal remedies to protect its property rights in international courts and arbitration institutions.

SCM is an international brand whose major businesses work in 7 countries of Europe and North America. The companies of SCM operate in metals and mining, energy, telecom, finance, media, transportation, agriculture and other areas of business.

Over 500 companies with about 200 thousand employees operate under SCM umbrella. SCM is owned by Rinat Akhmetov.

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