Asking for the aggressor's consent to manage its seized assets is not normal. ARMA does not lose faith in MPs even after 4 initiated but not approved draft laws on unblocking the management of corporate rights of the Russian Federation.
This was emphasized by Pavlo Velykorechanin, Deputy Head of the Asset Recovery and Management Agency (ARMA), at the III Conference “Compensation for Damage Caused by War” organized by the Yurydychna Praktyka publication. The event brought together high-ranking government officials, members of the Ukrainian Parliament, leading lawyers and members of the public.
“Draft Law No. 6233, which was recognized by the President of Ukraine as urgent in 2023, did not receive the required number of votes in the Parliament. The same applies to the draft law No. 11280-1. Currently, the Verkhovna Rada is awaiting approval of draft law No. 10069. This initiative is able to provide much-needed revenues to the state budget at the expense of thousands of enemy assets in Ukraine,” noted Pavlo Velykorechanin.
The Deputy Head of ARMA said that the process of transferring the withdrawn Russian funds to ARMA in Poland is underway. Currently, these funds are on the accounts of the Polish Prosecutor's Office, but should be transferred to the National Agency soon. ARMA plans to use the funds to purchase military bonds.
The need to amend the Criminal Procedure Code of Ukraine, in particular Article 545, was emphasized. This should allow international jurisdictions to respond directly to the Agency within the framework of international legal assistance in the execution of court decisions on the transfer of assets for sale. Currently, cooperation with foreign authorities within the framework of MLA is exclusively within the competence of the Prosecutor General's Office.
Pavlo Velykorechanin reminded how ARMA defends the state's interests and ensures that Russian funds are used to strengthen Ukraine's defense capabilities. He cited the example of 2.6 billion UAH of the Russian online casino Pin Up, for which ARMA purchased military bonds and which are now working for Ukraine's defense capability.
