The delegation of the National Asset Recovery and Management Agency (ARMA) took part in the annual meeting of peration «Oscar», which took place at the Europol Headquarters ( Hague, the Kingdom of the Netherlands). Initiated in April 2022 by Europol in cooperation with EU Member States, Eurojust and Frontex, the operation aims to strengthen international cooperation in financial investigations aimed at identifying, seizing and recovering assets of sanctioned persons, as well as countering the circumvention of EU sanctions.

ARMA on the agenda: results of asset tracing and international cooperation

This year's meeting brought together representatives of law enforcement agencies, financial analysts and international experts from more than 30 countries, including the United States, Switzerland, the United Kingdom and EU member states.

ARMA was represented by Anna Makarenko, Director of the Department for Finding, Tracing and Recovery of Assets in Foreign Jurisdictions, and Maksym Pasik, Acting Director of the Department for Finding and Tracing of Assets of Sanctioned and Other Entities that Pose a Threat to the National Interest of Ukraine.

During the meeting, the ARMA presented to international partners the results of asset tracing in 2024 within the framework of operation «Oscar», namely 76 international requests were sent to the competent authorities of 30 countries as part of the operation;

Critical information was obtained on the assets of persons associated with the armed aggression of the Russian Federation against Ukraine;

deepened cooperation with foreign partners in the field of tracing and returning illegal assets.

Asset recovery: challenges and solutions

ARMA also presented to international partners the challenges faced by the Agency in the process of asset recovery. In particular, they discussed the «VinnytsiaPobutkhim»case, which demonstrates the duality of the status of seized assets of sanctioned persons, and the difficulties of returning property, using the example of Medvedchuk'syacht.

The author emphasized the critical importance of legislative initiatives that ARMA is actively promoting at the international level, namely

Results: strengthening international cooperation

The Operation «Oscar» meeting confirmed the high level of interest of international partners in cooperation with ARMA and further development of the sanctions policy against Russian assets. The participants of the meeting expressed support for Ukraine's efforts and assured of further assistance in identifying and recovering illicit assets. Representatives of Eurojust, who also participated in the meeting, expressed particular interest in the Asset Recovery Strategy for 2023-2025, where ARMA plays a key role.

ARMA will continue to work actively at the international level, in particular by expanding its network of partnerships and improving asset recovery mechanisms in favor of Ukraine.