Since the beginning of Russia's full-scale invasion of Ukraine, the National Agency has become one of the subjects of Ukraine's sanctions policy. ARMA has processed about 12 thousand requests from the Ministry of Justice of Ukraine regarding individuals and legal entities that have been sanctioned and are listed in the State Sanctions Register. As a result of this cooperation, we have identified assets worth billions of dollars, including land, real estate, cars, airplanes, ships, corporate rights and even weapons.

This was stated by Pavlo Velykorechanin, Deputy Head of the Asset Recovery and Management Agency (ARMA), at the BUSINESS PROTECTION 2024 - A2B FORUM.

“Among the assets identified by the Agency are yachts, land plots and luxury real estate in European capitals, works of art worth more than 55 million USD. Even an ancient castle-residence near Versailles,” said the Deputy Head of ARMA.

He emphasized that ARMA has every opportunity to sell sanctioned assets, but this issue requires legislative regulation. Thus, the draft law 10069 has already been developed and is currently in the Parliament. “Approval of this draft law would allow ARMA to quickly and transparently sell assets that are seized in criminal proceedings and at the same time blocked by the sanctions mechanism through the Prozorro.Prodazhi system,” added the Deputy Head of ARMA.

Pavlo Velykorechanin also spoke about strengthening cooperation between ARMA and other anti-corruption agencies. He cited an example of a mechanism developed jointly with the National Agency for the Prevention of Corruption to identify unjustified assets abroad.