Manipulation of European funds by Ukrainian officials will be the basis for DTEK Renewables lawsuits in the international courts.
The Ukrainian Guaranteed Buyer has acknowledged manual intervention in distributing the European targeted loan to repay debts to green investors, including DTEK Renewables. One result of the Illegal actions by several officials led to a fall in the valuation of the DTEK Renewables Eurobonds. As a result, Eurobonds and Ukraine’s sovereign credit indicators also fell. DTEK Renewables now requires the Guaranteed Buyer, Oschadbank, the Cabinet of Ministers of Ukraine, and the President’s Office to ensure the fastest payment of debts to the company. Further delays will be seen as increasing political and financial pressure on the business.