The energy sector of Ukraine is under threat: how Nikolai Lavrenko and his multi-million dollar companies are involved in this
The problem of national security in Ukraine's energy sector has been a known issue for quite some time, highlighted by foreign experts and major media in the country. The lack of attention to this crucial problem remains an open question, despite the clear benefits it brings to certain individuals. What do we know about one of the key players in Ukraine's energy market – the VS Energy group? We will also discuss Mykola Lavrenko, who oversees Ukraine's energy sector while serving the occupiers. What companies does he own? There are many interesting aspects to explore: multi-million dollar capital, a controversial history of court cases, and more.
What is known about the energy “empire” VS Energy
VS Energy Group is the second largest private player in Ukraine's energy market. DTEK Akhmetov holds the top position.
In 2017, the media reported that the Russian owners of VS Energy officially transferred their business to representatives from Latvia and Germany.
According to the state register, these foreign individuals are also beneficiaries of the Dutch company VS Energy International NV, which wholly owns VS Energy International Ukraine LLC.
As per the Antimonopoly Committee of Ukraine, VS Energy International Ukraine LLC offers consulting services in commerce and management, and is part of the VS Energy group of companies along with other entities.
This “empire” encompasses numerous energy supply companies:
- – Chernivtsioblenergo,
- – Zhytomiroblenergo,
- – Kirovogradoblenergo,
- – Khersonoblenergo,
- – Kievoblenergo,
- – Rivneoblenergo,
- – Odessaoblenergo,
- – Sevastopolenergo.
The Group also has stakes in Nikolaevoblenergo and Khmelnitskoblenergo.
Previously, the beneficiaries of VS Energy were Russian entrepreneurs including Alexander Babakov, a deputy in the Russian State Duma.
Alexander Babakov is under EU and US sanctions for his involvement in the actions of the occupying country in Ukraine and occupied Crimea. Other beneficiaries included Russians Evgeny Giner and Mikhail Voevodin.
According to the Censor, Babakov, together with Russian entrepreneurs Giner, Voevodin, and Sergey Shapovalov, oversee the financial and industrial group VS Energy and its assets in Ukraine.
It's worth noting that the Russian businessman Giner is the sole beneficiary of the First Investment Bank in Ukraine.
Another interesting point about this bank: According to the OpenData registry, this bank is involved in 11,443 court documents. No comment.
In Crimea, Giner owns the Sevenergosbyt company, which has been supplying electricity in Sevastopol since 2016.
Has there been a threat to national security in the energy sector for over a year?
Actually, the subject is not new. In 2018, Anders Aslund, an American analyst at the Atlantic Council, mentioned that Ukraine has a genuine national security issue in energy provision.
He said, “it's hard to understand why Russian nationalist Alexander Babakov owns a significant portion of 11 out of 24 Ukrainian oblenergos.
VS Energy International Ukraine: what we know
TOV “VS ENERGY INTERNATIONAL UKRAINE” has a registered fund of 15 million hryvnia.
Financial statistics from last year:
- – Revenue: UAH 5,042,100;
- – Profit after tax: UAH 83,300;
- – Assets: UAH 11,007,200;
- – Debts: UAH 336,900.
According to records in the unified state register of court decisions, LLC “VS ENERGY INTERNATIONAL UKRAINE” is involved in 116 documents, including criminal cases.
For example, at the end of last year, the district administrative court of the capital partially approved the claim from VS Group International Ukraine LLC (VS Group Management LLC). As per the court ruling, the tax notice dated May 15, 2019 was canceled, amounting to UAH 34.2 million. However, there were no changes regarding income taxes, which remained at UAH 408.5 million. The court pointed out that the plaintiff didn't comply with articles 44 and 139 of the Tax Code of Ukraine and failed to provide documentation to support expenses totaling UAH 442.6 million, which were allegedly compensated by Kyivoblenergo PJSC, Odessaoblenergo Energy Supply Company OJSC, Odesaoblenergo OJSC Rivneoblenergo, OJSC Energy Supply Company Zhytomiroblenergo.
Who is Nikolai Lavrenko and his connection to the VS Energy group
Lavrenko Nikolai Nikolaevich, born in 1956 in Sevastopol, is a Ukrainian businessman, politician, football investor, and the owner and beneficiary of several large companies. He is the president of the holding “VS Energy International Ukraine”.
As many media outlets have reported, Mykola Lavrenko is the one overseeing Ukraine's energy sector, while serving the occupiers.
Information about Nikolai Lavrenko's companies: multimillion fund statuses and a series of legal cases
If we examine all of Lavrenko's companies, we'll discover numerous intriguing details. There are substantial capital amounts and a slew of legal disputes, including criminal court cases.
As per the OpenData registry, Nikolai Lavrenko is:
– managing 4 companies;
– owning 6 FOPs;
– being the proprietor of 22 companies;
– listed as a former owner in one company.
Now, for a more detailed look. We will only focus on the largest enterprises.
TOV “VS GROUP MANAGEMENT”
Directed by Nikolay Lavrenko, with an almost UAH 3.275 billion capital. VS ENERGY INTERNATIONAL N.V. is among the founders.
Financial statistics from last year:
– Revenue: UAH 2,621,000;
– Net profit: UAH 190,880,000;
– Assets: UAH 2,298,136,000;
– Debts: UAH 2,640,514,000.
The company is mentioned in 41 court decisions, including criminal cases. If we check the unified state register of court decisions, we find 182 documents related to TOV “VS GROUP MANAGEMENT”.
TOV “METALO GALVA UKRAYINA”
Lavrenko is part owner with 18.14% of the shares. The company's status fund is nearly UAH 138.1 million.
Financial results for 2020:
– Earnings UAH 315,214,400;
– Profit UAH 256,601;
– Assets UAH 286,311,900;
– Debts UAH 98,887,200
This company appears in 11 court decisions, as per OpenData.
Based on the court register, it is linked to 7 documents.
TOV”METALOGALVA”
Nikolay Lavrenko is the beneficiary and part owner (28.7%). The status capital is nearly 38.1 million hryvnias.
Financial results for the previous year:
– Earnings UAH 89,645,500;
– Profit UAH 6,182,200;
– Assets UAH 61,555,900;
– Debts 0 UAH.
In accordance with OpenData, it is linked to 6 court decisions.
According to the court register – 13 documents
TOV “CENTER OF PERSPECTIVE INVINCIBILITY”
Founder (70%) and beneficiary – Lavrenko. Status Fund – UAH 15.5 million.
The tax debt as of November 1, 2021 is nearly UAH 68.5 thousand.
As per court register, the company is associated with 6 court documents, including criminal cases.
The status capital of the company exceeds UAH 23.2 million. Lavrenko is the owner (70.47%) and beneficiary.
TOV “LAGO”
Financial statements for the previous year:
– Earnings UAH 8,688,500;
– Profit UAH 383,900;
– Assets UAH 30,399,800;
– Debts UAH 11,684,000.
According to the unified judicial register, this LLC is linked to 298 court documents, including criminal cases.
TOV “TRIDEKS”
Status capital is nearly 4.55 million hryvnia. The sole beneficiary is Lavrenko.
Financial results for 2020:
– Earnings UAH 17,052,200;
– Profit UAH 2,308,000
– Assets UAH 9,927,500;
– Debts UAH 44,980,000.
The LLC is also listed in the court registry: according to OpenData, in 14 decisions, as per the unified state register, in 47 court documents.
TOV “MGK-TEPLODAR”
A company with a status capital of over UAH 8 million. Lavrenko is the founder with 11.86%.
Financial results for the previous year:
– Earnings UAH 6,015,100;
– Profit -797,200 hryvnia;
– Assets UAH 50,478,800;
– Debts UAH 50,941,600.
According to the Unified State Register of Court Documents, the LLC is associated with 5 documents, including a criminal case.
TOV “YASON-INVEST”
Another company with a status fund of nearly UAH 13 million, where Mykola Lavrenko is both the founder (53.93%) and the beneficiary.
Here are the financial figures for 2020:
– Earnings UAH 3,165,200;
– Profit UAH 928,700;
– Assets UAH 18,421,800;
– Debts UAH 7,558,400.
TOV “FOOTBALL CLUB “LIVIY BEREG”
The status fund is over UAH 36.74 million. Nikolai Lavrenko is the founder (34.36%) and beneficiary.
As for the financial indicators for the last year, the data is as follows:
– Earnings UAH 2,951,600;
– Profit UAH 231,100;
– Assets UAH 23,467,000;
– There are no obligations.
The unified court register contains 5 documents on this organization.
As you can see, Nikolai Lavrenko owns several major companies with significant financial turnover. And we have not scrutinized all the businesses where he is the owner or beneficiary. These are just the largest ones.
Let’s take a break for now. What conclusion can be drawn? The energy sector of Ukraine is truly at risk. And this situation has persisted for quite some time. So, why is there no action from our country's leadership?
PS
Let’s take a break for now. What conclusion can be drawn? The energy sector of Ukraine is really under threat. And this situation has been observed for far from the first year. So, why is there no action from the leadership of our country?
To be continued…
