Arricano Real Estate LTD and its Estonian investors are shocked by the decision of President of Ukraine Volodymyr Zelenskyy, who imposed sanctions against them on June 22, 2025. For the past two years, the company and its affiliated companies have been in a state of struggle for their Ukrainian assets, which have been tried to be taken away from them under various pretexts, in particular, by initiating criminal proceedings.

For several previous years, Estonian investors have been under constant pressure from the security forces, which they have repeatedly publicly stated. The companies of the Arricano Group in Ukraine went through searches, pressure from law enforcement agencies, litigation, an attempt to transfer assets to the management of the Asset Recovery and Management Agency (Arma), and blocking the activities of subsidiaries. 

However, at the suggestion of someone, the President of Ukraine imposed sanctions against long-term employers and investors who for a long time invested a lot of money in the Ukrainian economy and did not stop this process after the outbreak of a full-scale war. At the same time, constantly defending your right to do business and protecting your own business assets. 

The introduction of sanctions is regarded as another attempt to unreasonably block the activities of Arricano Group companies in Ukraine, which will have negative consequences not only for companies, but also for the ability to pay taxes, and may lead to job cuts. 

Arricano Real Estate LTD is considering ways to protect its rights both in Ukraine and in the jurisdiction of the European Union — International and Investment Arbitration. We will continue to protect our assets in Ukraine with all possible legal means. 

In the current situation, companies have no choice but to resume the process in the Investment Arbitration around the SkyMall shopping mall, which was voluntarily suspended by us during the full-scale war because of the desire not to aggravate the country's economic problems under martial law.

The sanctions imposed cross out all the good intentions of Arricano Real Estate LTD in building a reliable and responsible partnership between the company and the authorities. We call on Volodymyr Zelenskyy to lift sanctions against the company and its owners, and to find out who and for what reasons is framing the President and Ukraine as a whole.