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ARMA secures UAH 35 million to state budget from management of seized gas stations Glusco

18-06-2024

This was announced today, June 18, by Head of the Asset Recovery and Management Agency Olena Duma.

In the first five months of 2024, PJSC Ukrnafta transferred UAH 35 million to the state budget from the management of the seized gas stations Glusco under the management agreement concluded with ARMA. At the same time, it took two months to inspect and accept the seized assets, and another 45 days for the AMCU to consider the joint application for a merger clearance.

As a reminder, in 2021-2023, the previous manager of these assets paid only UAH 1.5 million to the Ukrainian budget. At the end of 2023, based on the results of desk audits, ARMA unilaterally terminated the agreement, recognising the management as ineffective. Subsequently, the Commercial Court of Kyiv City in its decision recognised the legality of ARMA's actions. 

"Effective management of seized assets ensures direct revenues to the state budget of Ukraine. Ukrnafta's monthly reports are regularly checked by ARMA and show a positive growth in revenues. We expect that in the second half of 2024, the amount of monthly budget revenues will increase significantly," said Olena Duma.