# Who Owns Czech Vanadium?

> Czech Vanadium's true owner may still be Russian oligarch Abramovich despite UAE shell company takeover.
- Title: Who Owns Czech Vanadium? · EUobserver | Shortify
- Summary: Czech Vanadium's true owner may still be Russian oligarch Abramovich despite UAE shell company takeover. Czech Vanadium, a €40m factory, is suspected to…
- Keywords: czech vanadium, roman abramovich, metco holding, nikhil skariah kolekunnel, sergei gushchin, evraz, sanctions evasion, u.a.e, ferrovanadium, czech republic, politics, world
- Source: EUobserver — https://euobserver.com/241042/who-really-owns-czech-vanadium-investigators-trace-possible-sanctions-evasion-links-to-russian-oligarch-abramovich
- Published: 2026-10-10T08:53:00+00:00
- Read time: 2 min
- Topics: czech vanadium, roman abramovich, metco holding, nikhil skariah kolekunnel, sergei gushchin, evraz, sanctions evasion, u.a.e, ferrovanadium, czech republic, politics, world
## Czech Vanadium's Russian ownership
Until Russia's full-scale invasion of Ukraine, Czech Vanadium was controlled by Russian businessman Roman Abramovich through Evraz group since 2007.
## Sanctions force sale
Sanctions following Russia's full-scale invasion of Ukraine in 2022 forced Abramovich to sell Czech Vanadium to Metco Holding in 2024.
## UAE shell company
Metco Holding, a Dubai-based company, became sole shareholder in Czech Vanadium but its true owner remains unclear.
## Czech authorities investigate
Czech police suspect the transfer to UAE may conceal Russian ownership and are seeking to establish who truly controls the company.
## Apparent fake owner
Czech judicial register lists Nikhil Skariah Kolekunnel as beneficial owner but he is a Dubai lawyer who provides nominee services.
## Skariah's background
Skariah founded two law firms in UAE and represents corporations that do not wish to publicly acknowledge ownership of businesses.
## Moldova money laundering
Skariah was linked to money laundering in Moldova where he helped move €2.6m in cash through a Dubai company in 2018.
## Ukraine connections
Skariah's company claimed ownership of an Ilyushin aircraft in Ukraine which allegedly cost €82m in 2017.
## Sergei Gushchin
Sergei Gushchin, a former Russian businessman, appears on Ukrainian sanctions lists for supporting the Russian army.
## Gushchin's role
Gushchin became a senior manager at PJSC TransContainer after Evraz sold its stake and formed a joint venture with Evraz in 2019.
## Czech Vanadium finances
Czech Vanadium reported €8m profits in 2024 and sent €0.6m to Dubai while retaining €12m in undistributed profits.
## Russia's monopoly
Russia supplies nearly all vanadium ore needed for Czech Vanadium, which accounts for six percent of global ferrovanadium production.
## Sanctions evasion risk
Analyst Jiří Skuhrovec says Abramovich may still control the entire supply chain for ferrovanadium despite the UAE shell company.
## What happens next
Czech authorities are investigating whether Czech Vanadium still links to Russian oligarch Abramovich through shell companies.
## Key takeaway

Czech Vanadium, a €40m factory, is suspected to still be controlled by Russian oligarch Roman Abramovich through Dubai shell companies after sanctions.