Ukraine's Steel King Files Property Rights Infringement Lawsuit Against Russia

Rinat Akhmetov [Photo by AP Yonhap News]

[Asia Economy Reporter Park Byung-hee] Rinat Akhmetov, owner of Ukraine's largest steel company and chairman of the prestigious Ukrainian football club Shakhtar Donetsk, has filed a property rights infringement lawsuit against Russia, major foreign media reported on the 27th.

Rinat Akhmetov, the major shareholder of Ukraine's largest steel company Metinvest, has filed a complaint against Russia at the European Court of Human Rights (ECHR). Akhmetov claimed that his property rights were violated and some assets were seized due to Russia's invasion.

Akhmetov was born in Donetsk, which is controlled by Russian forces.

Akhmetov explained that dozens of steel businesses and coal mines in the Donbas region controlled by Russian troops, as well as assets in southern Ukraine, are under Russian military control. The Azovstal steel plant in Mariupol, where some of the fiercest battles have taken place since the outbreak of the Ukraine war, is owned by Metinvest.

Through his group, Akhmetov issued a statement asserting that Russia must not destroy, loot, or blockade the assets he owns. He also said that evil must be punished, emphasizing that the crimes Russia committed against Ukraine and its people were atrocious and that Russia must be held accountable for these crimes. He explained that this lawsuit would be one of the first international legal actions taken to stop Russia's crimes, the destruction of Ukraine's economy, and the looting of Ukrainian assets.

The steel industry accounts for as much as 10% of Ukraine's gross domestic product (GDP). Employment related to the steel industry reaches 500,000 people. Ukraine is also one of the countries that export the most finished steel products to the European Union (EU).

However, it is expected that Akhmetov's lawsuit will not easily produce results, as Russia is unlikely to comply with the ECHR's ruling.

Dmitry Peskov, spokesperson for Russian President Vladimir Putin, told reporters that Russia is outside the jurisdiction of the ECHR and will not follow its rulings.

This content was produced with the assistance of AI translation services.