#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.
#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.
#AceFinanceNews – KIEV – March 21. Ukraine’s withdrawal from the Commonwealth of Independent States (CIS) will lead to a sharp decline in investments in the Ukrainian economy from CIS countries, primarily Russia, which is one of the largest investors, said leader of the Ukrainian Choice movement Viktor Medvedchuk.
“The CIS is an effective economic union,” Medvedchuk said commenting on the statements of Ukraine’s Acting Foreign Minister Andrii Deshchytsia and Acting Secretary of the Security Council Andriy Parubiy that Ukraine started procedures to leave the CIS.
“Ukraine’s withdrawal from the organization will also mean leaving the CIS free trade zone,” he said. “The country will forfeit duty free export regime, which will break cooperation ties with enterprises in Russia, Belarus and Kazakhstan. Economic damages will amount to billions of dollars.”
Russian Finance News