Latest news with #KostiantynZhevago
Yahoo
21-05-2025
- Yahoo
Fire breaks out at thermal power plant in Kyiv Oblast, 2 dead
A fire broke out at one of the facilities at the Bila Tserkva Thermal Power Plant, killing at least two people, the State Emergency Service reported on May 21. The fire was reported around 1 p.m. local time, breaking out at one of the plant's facilities during repair work. The fire was localized as of 2 p.m. Rescuers continue to work at the scene, while the consequences of the accident are still being determined, the statement read. The Bila Tserkva Thermal Power Plant is one of Ukraine's critical infrastructure facilities that was severely damaged by a Russian attack in December 2022. Despite the damage, the plant continued to produce heat for residential buildings and civilian infrastructure in the region in the winters of 2023 and 2024. In January 2024, the national commission that regulates the energy and utilities spheres suspended the plant's license due to the change of ownership. The facility was previously owned by Ukrainian oligarch Kostiantyn Zhevago and became municipal property. Read also: Russian semiconductor plant making missile, jet parts hit in Ukrainian attack, military says We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Reuters
17-04-2025
- Business
- Reuters
Ferrexpo hit with fresh suspension of VAT refunds in Ukraine
April 17 (Reuters) - Ukraine-focused miner Ferrexpo (FXPO.L), opens new tab said on Thursday that Ukrainian tax authorities have decided to suspend the refund of value-added tax worth 456.6 million hryvnias ($11.03 million) for February to two of its Ukrainian units. This follows a similar suspension of its January VAT refunds in March when 512.9 million hryvnias were withheld. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Ferrexpo previously said the VAT refund suspension was related to the imposition of personal sanctions on Ukrainian billionaire Kostiantyn Zhevago, who is the largest shareholder of the London-listed company. "Personal sanctions on Zhevago should not be used as an instrument to place financial pressure on Ferrexpo," the miner said. Zhevago is facing allegations that he embezzled money from the now-bankrupt lender Finance & Credit Bank, in which he had a 95% indirect shareholding before its 2015 collapse. Ferrexpo said it has undertaken significant cost-cutting measures to preserve liquidity, impacting its workforce, mining, and processing operations, among other areas. ($1 = 41.3900 hryvnias)
Reuters
07-04-2025
- Business
- Reuters
Ferrexpo's pellet production drops 26% as Ukraine halts VAT refund
April 7 (Reuters) - Ukraine-focused miner Ferrexpo (FXPO.L), opens new tab reported a 26% drop in first-quarter pellet production on Monday, after a suspension of VAT refunds in the country forced it to scale back operations. Ferrexpo said it could only operate one pellet line during the quarter, leading pellet production to fall to 1.35 million tonnes. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Last month, the miner said Ukrainian tax authorities suspended its VAT refund worth 512.9 million hryvnias ($12.5 million) due to sanctions on billionaire Kostiantyn Zhevago, who controls Ferrexpo and has been accused of alleged embezzlement.
