British investors worry that Ukrainian oligarch Ihor Kolomoisky is taking control of JKX Oil & Gas, a London-listed company that only two years ago was touted as a model of Western investment in oil and gas production in Ukraine

British investors worry that Ukrainian oligarch Ihor Kolomoisky is taking control of JKX Oil & Gas, a London-listed company that only two years ago was touted as a model of Western investment in oil and gas production in Ukraine, reports The Mail on Sunday newspaper. The London Stock Exchange website reports that 19.97% of JKX has been acquired by Cascade, an investment fund controlled Vitaliy Khomutynnik, a Rada member with ties to Kolomoisky. Coupled with 27.54% of shares owned Eclairs Group of Ihor Kolomoisky and Hennadiy Boholiubov, Kolomoisky now effectively controls the company. One year ago, five Westerners, including four Americans, resigned from the JKX board. Since then, in December, the High Court in London granted a £2 billion freezing order on assets owned by Kolomoisky and Bogolyubov, including their stake in JKX.