Sanctions are a tool for protecting the state, not a tool for its destruction

Main / News /

30.06.25

Over the past two years, Smart-Holding, one of the largest Ukrainian investment and industrial groups, has faced multi-level restrictions related to sanctions against the founder.

Despite the official irrevocable transfer of assets to independent European trusts at the end of 2022, state authorities suspended the company's gas production licenses twice - in April 2023 and November 2024.
Result:
— The opportunity to produce more than 300 million m³ of gas has been lost
— This year's investment program for UAH 3.2 billion has been blocked
— The 2024 budget has not received UAH 1.6 billion in taxes
— The number of employees has been reduced by three times

Businesses operating within the framework of the law provide tax revenues, help the Armed Forces of Ukraine, provide jobs and produce much-needed Ukrainian gas should not be subject to restrictions, paralyzing its operational activities. Smart-Holding remains open to dialogue with the state and partners to jointly find solutions that will stabilize the situation in a critical sector for the country. The CEO, Ivan Gerasimovich, told more about the present of Smart-Holding in an interview for Forbes.

Previous news Should we expect foreign investments in the Ukrainian economy? Next news Win-Win: How to restore Ukrainian gas production without lifting sanctions on the beneficiaries of the British Enwell Energy?  

12.01.26

Why Cyprus' EU presidency is important for Ukraine's future

Andreas Sophocleus, trust manager of Smart Holding and founder of the Kepaky charitable foundation, emphasizes that investors are ready to work in Ukraine, invest and create jobs even during the war. But they need something that no company can provide on its own — political and regulatory stability. And this must be implemented already, and not wait for better times.

18.12.25

The State Budget of Ukraine Received 41% Less Taxes from Smart Holding in the First 9 Months of 2025

As of January–September 2025, the Group’s companies paid 543 million UAH in taxes, which is 41% less than in the same period last year (915 million UAH). This reduction occurred, among other reasons, due to increased government pressure and the blocking of gas production assets of the publicly listed British company Enwell Energy.

17.11.25

Ukraine imports gas, while blocking its own fields

Ukraine has gas, but cannot produce it. Not because of the war. Not because of missiles. Due to the decisions of state bodies.