Ukraine confiscates 903 objects belonging to Russia for the benefit of the Ukrainian people

The Government has approved the Presidential Decree on the forfeiture of a number of russian assets for the benefit of Ukraine and the Ukrainian people, Prime Minister Denys Shmyhal announced the decision.

As the Head of the Government noted, all the property that is planned to seize is divided into three categories. The first category is property that belongs to the russian state. The second category is assets owned by sanctioned citizens and companies from Russia. The third category is the assets of russian banks.

“Today, the Government has endorsed the Presidential Decree proposing the confiscation of 903 objects belonging to the russian state: 79 positions are corporate rights, 824 – property,” Denys Shmyhal emphasized.

The Prime Minister said that the forfeited assets would be converted into money to be directed to defense sector and restoration of Ukraine: “We apply systemic approach and act in line with all procedures. We do not replace the law with our wishes, but implement this strategic task in a legal way.”

According to the Head of the Government, this step is the first in the state strategy. Next should be the confiscation of russian assets in the West to ensure the reconstruction of Ukraine.

“Both the Government and the President’s Office are working on that with teams of the best lawyers and teams of international experts, our partners and allies,” the Prime Minister emphasized.

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