On December 30, the “Group DF” website announced that the private joint-stock company “Ukrainian Chemical Products”, formerly known as “Crimean Titan”, a major producer of titanium dioxide in the Crimean city of Armyansk, had allegedly «sold all its assets in Crimea to “Russian titanium” (RF)». The website states that under the terms of the agreement, «all movable and immovable property of the former “Crimean Titan” plant becomes the property of the buyer» and that «the agreement is closed, relevant changes have been made to the registers of state registration of Ukraine».
At the same time, the company declares that allegedly «having no control over this asset since 2016, the Group was looking for an opportunity to sell it». At the same time, in 2014, the Ukrainian company “Crimean Titan” was re-registered from Armyansk to Kyiv, then “Group DF” renamed it as “Ukrainian Chemical Products” and included enterptise in the titanium business of “Group DF”. “Ukrainian Chemical Products” is owned by Dmytro Firtash’s “Ostchem Germany GmbH”, registered in Hamburg, Germany.
The Russian registers do not contain any information about the “Russian titanium” company, but it does mention the existence of the Cypriot company “Russian Titan Company Limited” as the owner of the Russian company “Olekminsky Rudnik”, which operates a field of the same name in the northern area of Russia’s Amur Oblast. Cypriot registers indicate Danilo Kotlyarov, the son of Russian “liberal politician” Irina Khakamada, among the directors and actual beneficiaries of this “Russian Titan Company Limited”.
It is noteworthy that “Olekminsky Rudnik” itself was brought into decline under that Cypriot company’s management, it was declared bankrupt and now, due to pressure from the regional Russian authorities, the private “Baikal-Amur Mining Corporation” obliged to bought out “Olekminsky Rudnik” de-facto to preserve production. Regardless of the reality of the current change in the “Crimean Titan” beneficiary, it is an obvious consequence of Ukraine’s abolition in November 2021 of the so-called “free economic zone «Crimea»”, which actually allowed Ukrainian business to subsidize the Russian invaders’ economy and Kremlin-controlled “peninsula’s administration”.