Government considers nationalising Fridman's stake in Kyivstar

After the European Union lifted sanctions against Fridman on 22 September, the issue of the potential nationalisation of the telecom operator Kyivstar's stake, which is under his ownership, has become more acute in Ukraine.

Context of sanctions restrictions

It is worth noting that although EU sanctions were cancelled, restrictive measures established by the United States, the United Kingdom and Ukraine continue to apply. However, these mechanisms provide for the freezing of property rights, rather than the direct expropriation of assets. Meanwhile, precedents of expropriating private property to the state already exist in Ukraine: specifically, Sense Bank was nationalised in 2023.

Media pressure and risks for investors

The topic of the possible nationalisation of Kyivstar has been actively discussed in the media space for about a month. Journalists and experts are publishing materials that support the idea of transferring part of the company to state ownership. The Kyivstar Group itself, in its reports submitted to the US Securities and Exchange Commission (SEC), warns investors about the presence of such risks.

Blogger Lachen reported that the government is considering the nationalisation of Fridman's stake in Kyivstar.