**Ukraine Cracks Down on Assets Linked to Sanctioned Oligarchs**
The Ukrainian government is taking steps to nationalize a mining company owned by a sanctioned oligarch. The State Bureau of Investigation and Justice Ministry are preparing to take control of Poltava Mining, a subsidiary of London-listed Ferrexpo.
**Ferrexpo’s Troubled Past**
Half of Ferrexpo’s shares belong to Konstantin Zhevago, who was arrested in absentia last year on embezzlement charges. Ukraine’s National Security and Defense Council recently announced sanctions against Zhevago, along with other Ukrainian businessmen and former officials.
**Environmental Concerns**
Poltava Mining is facing a separate lawsuit for allegedly causing environmental damage through illegal mining and selling waste products. The company denies the allegations and intends to defend itself in court.
**Ukraine’s Broader Crackdown**
The nationalization of Poltava Mining comes amid Ukraine’s broader crackdown on assets linked to sanctioned oligarchs during wartime. The move aims to prevent these individuals from profiting from the conflict.
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