ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal has announced that Malinovsky District Court of Odessa has dismissed charges of coking coal smuggling against it.
"All charges against the enterprise regarding an alleged smuggling attempt, previously made by the State Customs Service and the Security Service of Ukraine, have been recalled," reads ArcelorMittal Kriviy Rih's statement.
The court's decision also has lifted the seizure of a consignment of coking coal imported by ArcelorMittal Kriviy Rih in August, which was taken off as an exhibit in a criminal case. The coal was seized by the State Customs Committee and has since remained at Odessa port.
"It is worth adding that the last ship with a consignment of coking coal, imported by ArcelorMittal Kriviy Rih last week, was cleared on the contract price in accordance with active law. Thus, even before the court decision the State Customs Service acknowledged the fair contract price of coal, according to which ArcelorMittal Kriviy Rih imports coal to Ukraine," ArcelorMittal Kriviy Rih said in its statement.
Commenting on the court's decision, ArcelorMittal Kriviy Rih's CEO Rinat Starkov said, "It is gratifying that the court has put an end to this case, which from the beginning harmed the image of Ukraine as a country attractive for foreign investment."