Motor Sich will return to state ownership - NSDC secretary

He said this at a briefing following an NSDC meeting on Thursday, March 11, according to an Ukrinform correspondent.

"The issue concerns the Motor Sich enterprise in Zaporizhia. To date, a relevant decision has been made, according to which the Motor Sich enterprise will be returned in the near future to the Ukrainian people, to the ownership of the Ukrainian state in a constitutional way," Danilov said.

According to him, each case, when defense industry enterprises found themselves in private hands, will be considered separately. "If the enterprise is strategically important to us, we will [return] it legally. People who have invested money in these enterprises will certainly receive appropriate compensation. This is being done for the national security of the country," he said.

As was reported earlier, Ukraine imposed three-year restrictive measures on Chinese citizen Jing Wang and three Chinese-based companies. The sanctions also targeted a company from the British Virgin Islands.

On January 8, President Volodymyr Zelensky enacted the NSDC decision on the application of personal special economic and other restrictive measures.

In January, the U.S. Department of Commerce imposed sanctions on China's Skyrizon Aircraft Holdings Limited, an investor in Ukraine's Motor Sich. Commerce Secretary Wilbur Ross said the United States wanted to warn exporters that Skyrizon had close ties to the Chinese army.

In early August 2020, DCH Group announced the beginning of a partnership with Chinese investors representing Skyrizon Aircraft Holdings Limited.

On August 6 last year, the Antimonopoly Committee of Ukraine announced that it would assess the sale of Motor Sich for compliance with competition law.

On September 4, 2020, Chinese investors in Motor Sich submitted a Notice of Investment Dispute to the Ukrainian Justice Ministry regarding their intention to apply to an international arbitration court to recover $3.5 billion in losses from Ukraine. The working group on pre-arbitration settlement also includes a representative of the Antimonopoly Committee of Ukraine.

It emerged in November that Chinese investors in Motor Sich had hired three law firms for the $3.5 billion lawsuit against Ukraine.

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