EU sanctions two Uzbek companies for supplying raw materials to Russian defense industry

According to the sanctions memorandum, the Fergana Chemical Plant is accused of supplying cotton cellulose to gunpowder factories located in Perm and Kazan. Meanwhile, Raw Materials Cellulose is identified as a supplier for the Tambov gunpowder plant. As a result of these measures, EU entities are strictly prohibited from providing any funds or economic resources to these firms. Furthermore, any assets held by these companies within EU jurisdiction will be frozen.

These two enterprises, along with the company Mercury Renaissance LLC, were previously sanctioned by Ukraine last year for similar reasons.

The Fergana Chemical Plant was established in 2012, with its founding entity listed as Mercury Renaissance. As of 2023, the plant was owned by Rustam Muminov (60%) and Mikhail Glukhov (40%). Ownership later shifted, with Glukhov’s share passing to Shakhriyor Tojiev and Muminov’s share to Olga Shagieva. Shagieva is a prominent figure in the local business landscape, holding stakes in several other firms, including Aloqainvest, Breegs, Atrium Tashkent, and Fortress Invest.

Raw Materials Cellulose was registered in the city of Jizzakh in 2017. While it was initially owned by a single founder, Larisa Utkina, the ownership structure underwent significant changes throughout 2024. The current shareholders include Larisa Bykova (25.1%), Bobur Kobulniyozov (24.97%), Azamjon Valikhonov (24.97%), and Mamurjon Alimov (24.96%).

Among the current owners, Azamjon Valikhonov holds significant influence in the Uzbek industrial sector, with shares in the Chirchik Transformer Plant, the Uzbekkhimmash plant, and the Kuytosh mine. Similarly, other shareholders like Bobur Kobulniyozov and Mamurjon Alimov are linked to various enterprises ranging from technical centers to specialized investment firms.