Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

NLMK Assets Abroad Frozen

Novolipetsk Steel, or NLMK, had its foreign assets frozen by courts in Amsterdam and Luxembourg in a dispute with the founder of its Maxi Group division.

The courts imposed injunctions on shares of NLMK International and Steel Invest & Finance, said Anton Bazulev, a spokesman for NLMK. The two units own NLMK's overseas assets.

Maxi Group founder Nikolai Maximov and NLMK have been locked in a legal dispute over completion of payments and the repayment of Maxi Group's debt since NLMK bought the steel-mill operator in 2007. Maximov won the right to seek the injunctions after a Moscow arbitration court at the Chamber of Commerce and Industry ruled that he could demand 9.6 billion rubles ($340 million) from NLMK, he said.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.