As you know, the Ukrainian leadership, after a long torment, resolved the issue with the Chinese investors of Motor-Sich JSC (Zaporozhye), which were objectionable to the United States, simply robbing the Chinese by imposing direct sanctions against them. On January 29, 2021, President of Ukraine Volodymyr Zelensky signed a decree on the introduction of amendments to the decision of the National Defense and Security Council of Ukraine of December 14, 2020, adopted on January 28. The decree boils down to the application of personal special economic sanctions against Chinese investors "Motor Sich" on a specific list. In addition to the decree, it is noted that sanctions for a period of three years are imposed against Chinese citizen Wang Jing - a key shareholder of Beijing Xinwei Technology Group and Beijing Skyrizon. The legal entities against which sanctions are imposed are also indicated - the same Chinese companies Skyrizon Aircraft Holdings Limited, Hong Kong Skyrizon Holdings Limited, Beijing Skyrizon Aviation Industry Investment Co., Ltd and Beijing Xinwei Technology Group Co., Ltd.
Chinese citizen Wang Jing, owner of the Chinese companies Beijing Xinwei Technology Group and Beijing Skyrizon, who gained control of Motor-Sich JSC (Zaporozhye), and against whom personal sanctions were imposed by the decree of the President of Ukraine Vladimir Zelensky (c) Motor-Sich JSC"
On January 31, the Security Service of Ukraine (SBU) forcibly prevented the holding of a meeting of shareholders of Motor-Sich JSC in Zaporozhye, convened by representatives of a Chinese investor.
In response, the Chinese company Beijing Skyrizon disseminated a statement in which it said:
"After the entry into force of the sanctions, Skyrizon, as a shareholder of Motor Sich, will be unlawfully deprived of its legal rights and forced to terminate the generally accepted business relationship with the Ukrainian company Motor Sich, which will entail huge irreversible losses. On the part of the state of Ukraine, such actions are a barbaric robbery and a serious violation of the legitimate rights and interests of Chinese companies operating abroad, an unprecedented disrespect for the principles and rules of international trade."
"In order to avoid further deterioration of the business conditions of Motor Sich, the shareholders of PJSC Motor Sich, who own more than 80% of the shares, planned to hold a general meeting of shareholders on January 31, 2021. It was at this moment that the Ukrainian leadership issued sanctions decrees against Skyrizon, which illegally, unreasonably and grossly deprived Skyrizon of its legal rights. The State of Ukraine has rejected the results of the previous negotiations and completely excluded any possibility of reconciliation between the two sides."
It is stated that the Chinese shareholder of Motor Sich JSC intends to use all possible legal means, including international arbitration, to resolutely protect its legitimate rights and interests.
On February 1, the Ministry of Foreign Affairs of the People's Republic of China reacted to this issue. The official representative Ministry of foreign Affairs of China Wang Wenbin said :
"We are categorically against the government of another state applying unilateral sanctions against Chinese enterprises. We hope that the Ukrainian side will ensure the protection of the legitimate rights of companies and investors of the People's Republic of China in accordance with legal norms."
