Business Empire of Ukrainian oligarch Rinat Akhmetov is on the verge of extinction

VAT on exports of metals has ceased to be reimbursed to Rinat Akhmetov's metallurgical enterprises. Experts believe that this is part of an ongoing " war of oligarchs" in the Ukraine, by results of which the Akhmetov's business empire can lose a lot of assets. The problem is that due to the redistribution of property the whole economy of the country suffers.

Yuri Rizhenkov, CEO of metallurgical holding company Metinvest - the main asset of Ukraine's richest man Rinat Akhmetov, has recently reported that in May the company's three enterprises were disconnected from the automatic reimbursement of value added tax (the tax returns for exported products).

"These enterprises are our largest exporters. The VAT refund for these enterprises is critical for us, as the non-refund can lead to impossibility to pay energy companies for electricity and gas, and ultimately - to stoppage of these enterprises,"- said the top manager. He talked about metallurgical plants in Mariupol, Yenakiyevo and Zaporozhye.