1 Nov 2018 14:22

Russian sanctions not to affect operations of MHP, Nibulon, companies say

KYIV. Nov 1 (Interfax) - Sanctions imposed by the Russian government against Ukraine's Myronivsky Hliboproudct (MHP) agroholding will not affect the company's operations.

"We do not supply our products to Russia and buy nothing there. The decision to impose the sanctions would not affect operations of our company," the press service of the agroholding told Interfax.

Nibulon LLC, one of the largest grain traders in Ukraine, was also sanctioned. It said it had no accounts or enterprises or property in Russia and did not therefore expect the sanctions to have any economic consequences for it.

Myronivsky Hliboproduct is the largest poultry producer in Ukraine. It is also engaged in production of grain, sunflower oil, and meat. It supplies cooled chicken half-carcasses to the European market, which are processed, in particular, at its enterprises in the Netherlands and Slovakia. The land bank of the company at the end of 2017 was about 370,000 hectares.

Nibulon was established in 1991. It is one of the largest operators in the grain market of the country. Nibulon cultivates 83,000 hectares. It exports agricultural products to more than 60 countries of the world. The annual export volume exceeds 4.5 million tonnes.

Russian Prime Minister Dmitry Medvedev signed a resolution on November 1 imposing special economic measures on Ukrainian individuals and legal entities. The sanctions will apply to 322 individuals and 68 legal entities.