The Asset Recovery and Management Agency of Ukraine (ARMA) has initiated the transfer of corporate rights of JSC “Ukrainian Energy Machines”
(JSC “Ukrenergomashyny”). The asset was transferred to ARMA for management within the framework of criminal proceedings pursuant to a court ruling. However, due to the absence of the necessary legal mechanisms in the previous version of the law, ARMA was unable to transfer the asset to a state-owned company, despite the Ministry of Energy proposing JSC “NAEC Energoatom” as the designated manager.

The new version of the special Law on ARMA, which entered into force on July 30, 2025, now allows the transfer of assets into the management of enterprises that are fully state-owned, including those under the jurisdiction of government ministries.

Therefore, ARMA has re-submitted a proposal to the Cabinet of Ministers of Ukraine to appoint a manager for the corporate rights of JSC “Ukrenergomashyny” in accordance with the updated legislation.

“The transfer of a high-tech enterprise like JSC ‘Ukrenergomashyny’ to a state-owned energy-generating company is not only a step towards the effective use of seized assets but also a contribution to Ukraine’s energy security and economic resilience,” noted Pavlo Velykorechanin, Deputy Head of ARMA.

ARMA emphasizes that JSC “Ukrenergomashyny” is a strategic asset that must operate and generate benefits for the state. Appointing a manager will enable the enterprise to function without interruption, preserve jobs, and direct revenue from the asset toward strengthening Ukraine’s economy.