On December 20, 2023, the Kyiv City Commercial Court issued a court decision establishing the legality of ARMA’s actions to unilaterally terminate the management agreement with LLC “Naftogaz Oil Trading”.
The Agency signed an agreement with “Naftogaz Oil Trading” to manage the Glusco gas station network in 2022.
On August 03, 2023, ARMA terminated the agreement with “Naftogaz Oil Trading” due to improper management, which was confirmed by ARMA’s in-house inspections, and violation of the agreement, which resulted in minimal revenues to the state budget.
To ensure proper management, proper functioning and prevent any operational interruption of this asset, ARMA urgently informed the Cabinet of Ministers of Ukraine of the need for a new asset manager who will operate in the interests of the state.
It should be added that over the past six months, ARMA has terminated dozens of contracts due to inefficient asset management. The Agency is convinced that seized assets should systematically replenish the budget of our country.
