Rada member Arakhamia can be implicated in the conflict between Argentem Creek Partners and GNT Group, a “Grain corridor” participant – media

Rada member Arakhamia can be implicated in the conflict between Argentem Creek Partners and GNT Group, a “Grain corridor” participant – media Arakhamia met with representatives of Argentem Creek Partners last November in Vienna
Photo: biz.censor.net
Davyd Arakhamia, chair of the Servant of the People faction in the Verkhovna Rada and chair of UkraineInvest, the government’s investment promotion office, can be connected with the conflict between the creditor Argentem Creek Partners and the GNT Group holding company that owns a grain terminal in the Odesa Commercial Sea Port. Business Censor’s journalists hypothesized this in their investigation.

Their theory is based on Arakhamia’s meeting with the ACP representatives in Vienna in November last year. In his comment to Ukrayinska Pravda’s journalist, Arakhamia stated that the main goal of his visit was to have a meeting with the U. S. fund Argentem Creek Partners, which had invested over $150 million into Ukrainian assets.

“I met with them as the chair of UkraineInvest’s supervisory board. I also visited DF Group’s Vienna office to meet with [the group owner] Dmytro Firtash and his manager. We discussed prospects of opening the “grain corridor” to rescue ports of Mykolayiv Oblast where DF Group owns the Nika-Terra port,” the faction chair indicated.

As reported by Hubs with reference to the official response from UkraineInvest, the investment promotion office stated that it was unaware of Arakhamia’s contacts with the ACP as the chair of UkraineInvest’s supervisory board. According to Hubs, during his Vienna visit, the Rada member discussed the possibility of Argentem’s placing the GNT Group’s stevedoring asset under control of Dmytro Firtash’s seaport business that includes the Nika-Terra port in Mykolayiv Oblast.

Journalists call attention to the Rada member’s meeting with Argentem in November. And in December, the American company that had been negotiating debt restructuring earlier started a process that amounts to a hostile takeover in GNT Group’s opinion.

“Regardless of the reaction by DF Group (so far they have left no trace in this story), such an offer can serve as evidence of a corrupt collusion and malicious design on the part of the U. S. company,” Business Censor concluded.


GNT Group is a Ukrainian stevedoring company operating in the Odesa Commercial Sea Port and exporting agricultural produce.

According to the company, the loan of $75 million was provided by the ACP in 2019 against the collateral of corporate rights worth several times more than the loan. The $20 million loan from Innovatus, secured with double collateral in the form of grain and corporate rights, was obtained in 2021. Loan repayments came to a grinding halt because of the war with Russia; however, the inception of the “grain corridor” operations offered an opportunity to settle loans. However, according to GNT Group’s owners Volodymyr Naumenko and Sergiy Groza, the creditor suddenly initiated the debt enforcement amidst the “grain corridor” operations in late December.

On February 17, 2023, Kyiv’s Pechersk District Court ruled in favor of Olimpex Coupe International, a GNT Group company. The court sustained the company’s request and lifted interim measures against the company.