Vazha Jashi
Although “Trans-Oil” is not directly mentioned in the Ukrainian publication’s investigation, it is alleged that Vazha Jashi may have been involved in a scheme to ship Ukrainian grain to Iran. Following the publication of the investigation, the group of companies provided clarifications to its partners, who had expressed concern about the allegations. According to Bloomberg, investors demanded explanations from Trans-Oil after a significant drop in the value of the company’s assets.
Following the investigation, according to Bloomberg, Trans-Oil’s shares and the company’s bonds maturing in 2029 and 2031 are currently trading significantly lower than at the opening of trading on Tuesday.
In a published statement, the Trans-Oil Group said it “completely and categorically rejects the allegations contained in materials recently published by the Ukrainian press.” The company called these allegations “completely fabricated” and announced that it had retained the international law firm Pillsbury Winthrop Shaw Pittman LLP to investigate the circumstances surrounding the publication of the information.
The Trans-Oil Group is a major operator in the grain, flour, vegetable oil, and meal markets in Moldova, Romania, Ukraine, and Serbia.
