Dmitry Mazepin fertilized Uralchem

The entrepreneur sold 52% in Uralchem against the backdrop of sanctions.
The owner of Uralchem, who fell under the sanctions, Dmitry Mazepin sold a controlling stake in the company and resigned as its CEO. Thus, the asset will not be subject to the restrictions imposed on the businessman. Evrokhim shareholder Andrey Melnichenko and PhosAgro CEO Andrey Guryev, who were also blacklisted by the European Union, did the same.

Basic Chemical Company Uralchem, the parent company of the fertilizer manufacturer Uralchem, said that Dmitry Mazepin, who previously owned 100% of the shares in it, sold 52% in the asset. Thus, the businessman, who was on the EU sanctions list on March 9, lost a controlling stake in the enterprise, retaining 48%. In addition, Mr. Mazepin left the post of General Director of JSC United Chemical Company Uralchem, which belongs to BHC. Instead, the company was headed by Dmitry Konyaev, who previously held the position of chairman of the board of directors in the company. In turn, Dimitry Tatyanin, Deputy Chairman of the Board of Directors of Uralchem, replaced him in this position. Dmitry Mazepin also resigned from the board of directors of UCC.

The restrictive measures introduced the day before against 14 shareholders and top managers of large companies imply a ban on the entry and transit through Europe of blacklisted people, freezing or blocking their assets and prohibiting European business participants from providing services, entering into economic transactions and providing economic resources ( including loans and credits). Sanctions apply to assets where they own more than 50%. In addition to Dmitry Mazepin, the EU included the owner of another chemical company, Evrokhim, Andrey Melnichenko, and the CEO of Phosagro, Andrey Guryev, on the sanctions list. The next day, the businessman ceased to be the beneficiary of the EuroChem group, where he controlled 90% of the parent company EuroChem Group AG, and the top manager left his post.