26.11.2024
Foreign investors, particularly from the US and the UK, are forced to account for losses due to the suspension of Ukrainian enterprises owned by the British public company Enwell Energy. This is not merely a financial blow to the business but it sends a troubling signal to the international investment community.
According to data from the London Stock Exchange, Enwell Energy shares dropped by 20 points following a decision by the State Service of Geology and Mineral Resources of Ukraine to suspend hydrocarbon production licences for the subsidiary Regal Petroleum Corporation Limited in the Poltava region, which is 100% owned by Enwell Energy. Despite repeated appeals to Ukrainian institutions to mitigate the risks associated with this decision, no response has been forthcoming so far.
“The suspension of gas production enterprises is not just a loss for the energy sector – it’s a loss for Ukraine’s reputation as a reliable partner. Can we truly expect new investments when international capital loses confidence in our country? We reiterate that personal sanctions against individuals should not result in the shutdown of entire enterprises, especially when it involves public companies whose shares are traded on major international platforms like the London Stock Exchange,” stated Ivan Gerasymovych, CEO of Smart Holding.
We urge government authorities to review their decisions based on common sense and the interests of energy security. Without investor trust, Ukraine’s recovery will be impossible.
Smart Holding has always operated transparently and responsibly, even during the most challenging times. We remain open to dialogue and cooperation, but decisions that harm the economy and energy security must be reversed.