SIBUR CONFIRMS LIFT OF SEIZURE OF ITS ASSETS IN EUROPE

Sibur has managed to achieve the unfreezing of the European assets of its subsidiary Sibur International GmbH, whose accounts were frozen on the basis of unreliable materials in the Internet media, the company's press service confirmed to TASS.

As previously reported by the EU Reporter portal citing sources, on June 21, 2024, the assets of the Austrian Sibur International (the export division of Sibur) were frozen by the Court of First Instance based on an appeal by the Austrian Ministry of the Interior. The reason for the restrictions was the false publication in the online publication The Insider (recognized as a foreign agent) that Sibur Holding was under the control of persons included in the EU sanctions lists.

However, at the end of September, the Higher Regional Court of Vienna lifted the seizure of the accounts of Sibur International GmbH, ruling that the position of the Austrian Ministry of the Interior could not be considered justified and confirmed.

Sibur is the largest vertically integrated petrochemical and gas processing company in Russia, combining several production sites in various regions of the Russian Federation. The company sells products to consumers in the fuel and energy, automotive, construction, consumer goods, chemical and other sectors.