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Ukrainian President's Candy Factory Assets Seized In Russia

The Roshen confectionery plant near Lipetsk in Russia (file photo)

Russian authorities have seized several assets at a candy factory owned by Ukrainian President Petro Poroshenko in the Russian city of Lipetsk.

Poroshenko's company, Roshen, said on April 28 that Russian officials are "deliberately taking all possible steps to prevent the company from selling its assets in Russia."

Poroshenko promised ahead of his election in May to sell Roshen.

Oleg Kazakov, the Lipetsk factory's deputy head, said on April 28 that production would continue at the factory despite the seizure.

Roshen said it would appeal the decision to seize the assets, which it said are worth some 2 billion rubles ($38.9 million).

Russian authorities raided the factory on April 1 in what they said was a search for materials related to a tax-fraud case.

A Russian Investigative Committee spokesman said after the raid that the Roshen factory was suspected of receiving a fraudulent tax rebate of some 180 million rubles ($3.1 million).

Based on reporting by Reuters and TASS