Baltic States – CIS, Latvia, Legislation, Markets and Companies, Metals Market

In a statement, the company also categorically denied Kazmin's involvement in any criminal activities, and point out that the company's lawyers are currently putting together the facts which will be necessary to deny the charges against him.

The company goes on to claim that this is an attack on Kazmin by former business partners and that various methods are being used against him.

As reported, the Ukrainian news portal politnavigator.net reported previously that the Ukrainian Security Service had arrested Kazmin on suspicion of ''financing separatists''. Kazmin is one of the owners of Crimea-based KVV Group, which purchased the financially troubled Latvian metallurgical company Liepajas Metalurgs in 2014.  

KVV Group announced in late March it had been forced to take a decision on the conservation of KVV Liepajas Metalurgs steel plant because the negative factors hampering the company's operations - the crisis in the global metal industry, the company's debts to secured creditors and the Latvian government's reluctance to provide assistance to the industry – were persisting.