The Head of the Asset Recovery and Management Agency (ARMA), Olena Duma, met with the CEO and founder of Project Expedite Justice (PEJ), Cynthia Tai.
During the meeting at ARMA's office, Olena Duma spoke in detail about the work of the renewed ARMA and the results of the National Agency's team over the past year. Head of the ARMA highlighted the implementation of new procedures for the sale and management of seized assets, the opening of the Seized Asset Register and plans to modernize it in accordance with current conditions, the effective management of seized funds and support for the Ukrainian Defense Forces through such management.
Olena Duma also outlined and sale of seized assets, noting that according to the updated procedures, all tenders for the selection of an asset manager or realizer are now held openly and transparently. Thanks to these procedures, the state receives the most favorable offer, and the participants receive competitive conditions for participating in such tenders and the opportunity to strengthen the Ukrainian economy in times of war.
Separately, the Head of the ARMA touched upon the issue of selling seized assets abroad. The National Agency's team is currently trying to open a mechanism and develop a procedure for such sale using the example of the seized luxury yacht of viktor medvedchuk, a traitor to Ukraine and former member of the Verkhovna Rada, “Royal Romance”. Currently, this asset is in a Croatian port, and ARMA is taking legal actions to enforce Ukrainian court decisions legalized in Croatia on the sale of the vessel.
“International partners, by providing financial assistance to strengthen the capabilities of our army to defend our country in times of war, support mechanisms for the sale abroad of assets that were purchased with funds stolen from the people of Ukraine. We will be able to cover a large part of the needs of the Armed Forces of Ukraine by directing the proceeds from the sale to the purchase of military bonds,” said Olena Duma, emphasizing that ARMA is the only body in Ukraine authorized to purchase government bonds.
The PEJ representatives were interested in the results of the renewed ARMA's work over the past year and expressed their readiness to cooperate and, if necessary, to conduct trainings for the National Agency's employees.
