The National Asset Recovery and Management Agency (ARMA) is starting to sell seized Russian iron ore weighing over 2 thousand tons. The asset has been placed on the electronic platform Prozorro.Prodazhi with a starting price of 6.1 million UAH. The iron ore is currently stored in 31 railroad freight cars.

Customs payments from the sale of this asset will amount to 2.3 million UAH.

The seized asset is related to the criminal proceedings on the illegal import of goods from Russia and Belarus through the abuse of the customs regime of “transit”, which resulted in a tax shortfall of over 10 million UAH to the budget.

The sale will take place through a three-round English auction on Prozorro.Prodazhi, where bidders do not see the bids of others. The electronic system will sort the bids from the lowest to the highest, and the highest bidder will have the right of last resort in each round of bidding.

All interested parties can follow new lots and participate in the bidding here.