` Russia’s UniConf has Filed Lawsuit against ` Ukrainian Sweet Manufacturer Claiming $70 million in Compensation ‘

#AceFinanceNews- UKRAINE – March 25 – Prosecutors have accused Ukrainian confectioner Roshen of producing counterfeit products, and it has suspended production at its Lipetsk factory in south-west Russia. Imports of Roshen chocolate were banned by Russia last summer.

Russia’s Uniconf has filed a lawsuit against the Ukrainian sweet manufacturer claiming $70 million in compensation.

On March 14, 2014 the Tverskoi Court in Moscow seized the accounts of Roshen enterprises in Russia, after the Russian law enforcement agencies carried out an inspection of the Lipetsk confectionery plant.

“If we continued working we’ll have to take commodity credits and have debts to pay to suppliers. No one will lend us money in the present situation,” as Interfax quotes CEO of Roshen, Viacheslav Moskalevsky.

In July 2013 Rospotrebnadzor, the Federal Service for Supervision of Consumer Rights Protection and Human Well-Being, banned the import of the Ukrainian confectionery.

As Russia is the main market for Roshen sales fell by 6 thousand tons a month. This forced the company to close its factory in Mariupol, Ukraine.

A month later in August 2013, Belarus decided to join Russia and ban the transit of confectionary, causing an approximate $200 million loss in revenue.

During the last 6 months Roshen has been only selling in Russia production from the Lipetsk factory, amounting to 10 thousand tons a month.

Now the confectioner plans to dispute the Tverskoi Court of Moscow decision.

“We plan to file a counter-claim against the ruling. Now all our efforts are aimed at overturning the court ruling or at least reducing the blocked sum so that the enterprise is able to function. A total of around 1.7 billion rubles has been seized,” Moskalevsky said.

Roshen is one of the largest producers of confectionery in Ukraine. The company makes up to 200 different types of confectionery: chocolate and jelly candies, caramel, cookies, wafers, swiss rolls and pies.

Total production is about 450,000 tons a year.

Ukrainian News

#AFN2014

#belarus, #interfax, #lipetsk, #moscow, #roshen, #russia, #tverskoi-court, #ukraine, #ukrainian

` European Parliament Member believes it is wrong for `European Union ‘ to Grant of Financial Aid ‘ to the ` Ukraine ‘

#AceFinanceNews – MOSCOW – March 25 – Pino Arlacchi, member of the European Parliament, believes it is wrong of the European Union to grant financial aid to Ukraine and suggests confiscating funds of Ukrainian oligarchs invested in European banks.

The funds Ukrainian oligarchs invested in European banks, exceeding 50 billion euro, should be confiscated and channelled for relief to Ukraine, he said in an interview with Itar-Tass.

He believes the new composition of the parliament of the European Union will endorse such a resolution regarding Ukraine.

He noted that such measures had been approved for North Africa, when the funds of dictators of Egypt, Tunisia and Libya were confiscated. So, there exist juridically substantiated mechanisms for that, Arlacchi said.

He noted, however, that there was a need for a request for this from the Ukrainian government, which is so far under oligarchs’ control.

Arlacchi recalled that the European Union had prepared an economic package for relief to Ukraine in the amount of 11 billion euro.

Criticizing this stand he noted that two billion euro out of the sum was a grant that was actually a gift to the corrupt government that could not guarantee the return of the funds.

Arlacchi noted it was irresponsible to give such a loan to the Ukrainian government.

#AFN2014

#egypt, #european, #european-parliament, #european-union, #libya, #moscow, #north-africa, #tunisia, #ukraine, #ukrainian

` Turkey agrees `Compensation Deal ‘ for Victims of Israeli Raid on Gaza Aid Flotilla in 2010 ‘

#AceFinanceNews – TURKEY – March 25 – A compensation deal for Turkish victims of a deadly Israeli raid on a Gaza aid flotilla four years ago will soon be signed, Turkish Deputy Prime Minister Bulent Arinc said Tuesday.

“We have received a final agreement document from Israel,” Arinc was quoted as saying by Hurriyet newspaper.

After next Sunday’s local elections, “our first job will be making sure the compensation is bound by a legal document,” the official added.

Talks on compensation over the nine Turks killed in the raid began in March 2013 after Israel extended a formal apology to Ankara.

Background to the Story

Israeli Prime Minister Benjamin Netanyahu has apologised to the Turkish people for “any errors that could have led to loss of life” during the commando raid on an aid flotilla bound for the Gaza Strip on 31 May 2010. Nine activists were killed and dozens wounded, when Israeli troops boarded the lead ship as it attempted to breach the naval blockade of the Palestinian territory. http://www.bbc.co.uk/news/10203726

The Gaza flotilla raid was a military operation by Israel against six ships of the “Gaza Freedom Flotilla” on 31 May 2010 in international waters of the Mediterranean Sea. The flotilla, organized by the Free Gaza Movement and the Turkish Foundation for Human Rights and Freedoms and Humanitarian Relief (İHH), was carrying humanitarian aid and construction materials, with the intention of breaking the Israeli-Egyptian blockade of the Gaza Strip. https://en.wikipedia.org/wiki/Gaza_flotilla_raid

Reuters – BBC – Wikipedia – Hurriyet – RT

#AFN2014

#ankara, #gaza, #gaza-strip, #israel, #israeli, #palestinian, #turkey, #turkish

` Britain reviews an Agreement it made with ` Rosatom ‘ in Reaction to the crisis in the Ukraine ‘

#AceFinanceNews – BRITAIN – March 25 – Britain is reviewing an agreement it made with Russian state nuclear firm Rosatom on nuclear cooperation, in reaction to the crisis in Ukraine, according to the Department of Energy and Climate Change (DECC).

Britain last November signed an agreement with Rosatom to help the company prepare potentially to enter the UK market.

The DECC said it had put the agreement under consideration over the Crimea situation. “No decisions have been made on how this work will be taken forward,” Reuters quoted a DECC spokesperson as saying. Rosatom has not commented on the statement.

#AFN2014

#britain, #crimea, #department-of-energy-and-climate-change-decc, #reuters, #rosatom, #russian, #uk, #ukraine

#AceFinanceNews MOSCOW March 25 Russia has not been…

#AceFinanceNews – MOSCOW – March 25 Russia has not been cooperating with the International Monetary Fund in searching for ways of providing financial assistance to Ukraine so far.

The Ukrainian side and the International Monetary Fund continue such a search, and we (Russia and IMF) do not, as far as I know,” Russian presidential spokesman Dmitry Peskov said on Tuesday, adding that a Russian representative worked at the IMF, thus “Russia indirectly participates in the process.” “However, it is difficult to speak of disbursing financial aid until Ukraine chooses new legitimate authorities,” Peskov said.

#afn2014, #dmitry-peskov, #imf, #international-monetary-fund, #russia, #russian, #ukraine

` China Seals the Deal for Purchase of 100 of Russia’s ` Sukhoi Superjet ‘ Worth 3.5 billion US Dollars ‘

#AceFinanceNews – BEIJING – March 25 – China’s private O-bay Aircraft Company, based in the Henan province, intends to buy 100 Russia Sukhoi Superjet-100 (SSJ-100) planes from Sukhoi company to the total worth of 3.5 billion US dollars, the Beijing-based China Daily reported, noting that the corresponding agreement had been signed on Saturday.

The report says that the Russian company will provide assistance to the Chinese side in setting up an assembly plant in Zhengzhou (administrative centre of Henan). Several other Chinese companies have also displayed an interest in this project.

The newspaper reports that Russia’s Sukhoi company is well known in China thanks to its military planes. The Sukhoi civilian assembly line is to be put into operation in 2016 and reach full capacity in 2018.

The project is yet to be approved by the Chinese State Council, according to China Daily.

It notes that the Russian plane will become direct competitor to the regional ARJ-21 plane that is being created by China’s aircraft building corporation.

Chinese Finance News

#AFN2014

#beijing, #china, #china-daily, #chinas

` Suspect in Embezzlement at Defence Ministry Remains Under House Arrest '

#AceWorldNews – MOSCOW – March 25 – The Moscow city court on Tuesday has approved as legitimate the remand sanctions against Yevgenia Vasilyeva, a suspect in embezzlement at the Defence Ministry, who will remain under house arrest until July 23, the Moscow city court ruled.

The court held hearings into Vasilyeva’s complaint against the sanctions in her absence because she preferred not to attend the hearings into her own complaint.

During the hearings Vasilyeva’ s lawyers backed her complaint and asked to repeal the remand sanction against Vasileva as “unsubstantiated and illegal”.

Investigator Igor Pavlovsky objected, citing Vasilyeva’s previous attempts “to put pressure on witnesses”.

Softer sanctions against Vasilyeva might enable her to continue exerting pressure on the witnesses, Pavlovsky said.

The term of an investigation into Vasilyeva’s case was extended until August 8.

She was implicated in 12 episodes of embezzlement connected with illegal sale of real estate belonging to the Oboronservice Company and illegal appropriation of its funds.

The Head Military Investigation department claims that Vasilyeva’s crimes inflicted losses worth more than three billion roubles.

Russian Media News

#AFN2014

#acefinancenews, #embezzlement, #funds, #moscow, #oboronservice-company, #pavlovsky, #real-estate, #vasilyeva

` Russia's State-Run-Clinics Proposes to Prohibit Purchases of ` Foreign Medical Equipment ' to Protect their Domestic Market'

#AceFinanceNews – MOSCOW – March 25 – Russia’s Ministry of Industry and Commerce proposes to prohibit purchases of equipment and materials of foreign manufacture by state-run clinics, except the equipment and materials made in Belarus and Kazakhstan, which are members of the Eurasian Customs Union.

A draft government resolution on the issue has been uploaded at an internet portal where the Russian government organizations publish the texts of regulatory and ancillary acts for preview.

“The draft resolution presupposes a ban on access to the Russian market for the medical products manufactured outside the Russian Federation, the Republic of Belarus or the Republic of Kazakhstan,” says an explanatory note on the resolution.

The prohibition will also embrace the equipment and materials that include more than 50% component parts and/or ingredients produced outside the Customs Union.

In addition, the ministry proposes to block access to the Russian state-run clinics for the equipment of foreign make that does not meet Russian quality standards.

The ban will embrace the purchases made “for state and municipal needs”.

The new resolution may affect the procurements of serious equipment like tomographic scanners, mammographic scanners, blood transfusion kits, blood substitutes, infusion solutions, various dentist equipment, infant incubators, units for nasal support of infants’ respiration, defibrillators, antiseptic cloths containing ethanol, medicinal cloths containing pharmaceuticals, would dressing, syringes, and injection needles, says the Rossiyskaya Gazeta daily.

The goal of the resolution is to protect Russia’s domestic market.

It was drafted upon President Putin’s instruction.

#AFN2014

#belarus, #kazakhstan, #ministry-of-industry-and-commerce, #moscow, #president-putin, #russias, #russian