Main points
- Ukraine confiscated 25.0717% of the shares of the Kryukiv Carriage Building Plant, which previously belonged to Russian businessman Stanislav Gamzalov.
- The confiscation was made possible by a decision by the Supreme Court of Ukraine, which was based on Gamzalov's ties to Russia's military-industrial complex.
Ukraine confiscated shares of top railcar manufacturer / novyny.live
Ukraine has acquired a 25.0717% stake in the Kryukivka Wagon Building Plant, one of the country's largest manufacturers of wagons. This stake previously belonged to Russian businessman Stanislav Gamzalov.
What is known about the confiscation of shares of the Kryukiv Plant?
The owner is the state, represented by the State Property Fund of Ukraine. This became known thanks to the data disclosure system of the National Securities and Markets Fund of Ukraine.
The basis was the decision of the Supreme Court of Ukraine on January 14, which decided to collect 28.6 million shares of the company (25.07%) as state revenue.
These are assets registered in the name of OW Capital Management, a company associated with Gamzalov. Their nominal value is over 21.5 million hryvnias.
- Back in December 2025, the Ministry of Justice of Ukraine appealed to the court with a demand to apply sanctions and forcibly seize this block of shares.
- The Ministry of Justice explained: Gamzalov is not just a businessman, but the owner of companies that work for Russia's needs in times of war.
- Its structures supplied products to enterprises linked to the Russian military-industrial complex and provided logistical support. This was the key reason for the asset confiscation.
What preceded the confiscation of assets?
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In July 2022, the court transferred the Russian shareholder's stake in the Kryukivka Carriage Works to the Asset Management and Tracing Agency (ARMA). This is 25% of the enterprise, which was acquired in 2012 by the Austrian company OW Capital Management, controlled by Russian Stanislav Gamzalov.
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These shares were seized in May 2022 as part of criminal proceedings regarding the withdrawal of 192.9 million hryvnias to Russia through a number of unprofitable contracts.
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In January 2023, it became known that Ukrzaliznytsia was applying to manage this stake. The then chairman of the board, Oleksandr Kamyshin, stated that the company would participate in the competition to manage the fate of the Russian shareholder.
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In May 2025, it became known that ARMA announced a competition for the management of 25% of the authorized capital of the Kryukiv Carriage Building Plant, the cost of which is 21.5 million hryvnias.