UkrOboronProm ready to assume temporary control of Motor Sich assets

Ukraine’s state-run defense production giant UkrOboronProm says it is ready to take charge of Motor Sich, a major aircraft engine manufacturer that the Ukrainian government is planning to nationalize to keep it out of China’s hands.

UkrOboronProm made the announcement shortly after the Shevchenkivskiy District Court in Kyiv ruled in favor of the state’s seizure of 100% of Motor Sich’s assets and shares on March 20. According to the court’s decision, the arrested properties were formally placed under the control of the country’s Asset Recovery and Management Agency (ARMA), which is obliged to hand them over to “a state-owned managing company.”