Czech Vanadium ownership under probe for possible links to Russian oligarch
Czech police are investigating the true owner of Czech Vanadium after its sale to UAE-based Metco Holding, suspecting continued ties to Roman Abramovich.
Until 2024, Czech Vanadium was part of Roman Abramovich’s Evraz holding, which supplied Russian ore for ferrovanadium production. After sanctions forced a divestment, the factory was acquired by Metco Holding, a UAE company whose sole shareholder is listed as Dubai-based lawyer Nikhil Skariah Kolekunnel. Czech police units NCOZ and FAÚ are probing the arrangement, suspecting that the nominal owner may be a front for Abramovich or his network.
The investigation also notes the involvement of Sergei Gushchin, a former Evraz associate now linked to Metco. Financial records show the plant generated profits exceeding €8 million in 2024, with part of the earnings transferred to the Dubai entity. The probe aims to determine if the ownership change violates EU sanctions and to identify the ultimate beneficial owners.
Why it matters
Uncovering hidden ownership could reveal sanctions evasion and security risks tied to a Russian oligarch.
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