Ukraine is confidently moving towards the European community, and the granting of candidate status and the start of accession negotiations are a clear confirmation of this. A key element of this process is the harmonization of our legislation with EU standards.

ARMA, as a body that forms and implements state policy in the field of identifying and tracing assets that may be seized in criminal proceedings, as well as managing such assets, is actively involved in this process.

The National Agency is initiating important amendments to the relevant law on ARMA, which provide for the expansion of powers to temporarily restrict the right to use/dispose of assets subject to seizure and subsequent confiscation.

These amendments are based on:

- EU Directive 2024/1260 on asset recovery and confiscation

- FATF recommendations

- Asset Recovery Strategy for 2023-2025

- current legislation on ARMA

Another important step is the draft law 10069, which is pending consideration by the Parliament. Its adoption will allow ARMA to effectively harmonize the state's sanctions policy and management of seized assets, as well as unblock the management of seized russian corporate rights, which will bring additional revenues to the state budget.

In August, the Government approved an action plan for the implementation of the Asset Recovery Strategy for 2024-2025, which provides for the development of numerous legislative initiatives to improve the system of management of seized assets in accordance with the best international practices, including those of the EU.

We continue to work systematically to bring Ukraine closer to EU standards and strengthen our institutional capacity.