Ukraine plans to sell Russian assets subject to sanctions

The Ukrainian authorities planned to sell 691 Russian assets that were subject to sanctions . This was stated by the HEAD of the Ukrainian State Property Fund Vitaly Koval in Tokyo at a conference on the restoration of Ukraine.

“Our plans include the sale of [Russian] assets subject to sanctions. Currently we have 691 such assets,” TASS quotes him . The money from the sale, according to Koval, will be used to restore Ukraine.

The law on confiscation of Russian property was signed by Ukrainian President Vladimir Zelensky in March 2022. According to the document, the seizure of such property in the country is carried out “without any compensation for its value.” At that time we were talking only about the property of legal entities.

In May 2022, Zelensky approved a law on confiscation of assets for supporting a special operation. it affected both companies and individuals.

In August 2022, the President of Ukraine announced that Russian assets totaling about $765 million had been confiscated. He also reported ongoing work to seize more than 900 Russian-owned objects.

DIRECTOR of the Bureau of Economic Security of Ukraine Vadim Melnik reported that assets of RUSSIA and Belarus worth UAH 30 billion (about $1 billion) were seized in the country.

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In the same year, the European Union and the United States proposed confiscating frozen Russian assets in favor of Ukraine. Russian President Vladimir Putin said that “theft of other people’s assets” does not lead to anything good and only brings problems to those who do it.