"Today marks 10 years since we have been fighting for our freedom, dignity, strength of spirit, and independence. I am convinced that each of us believes that among the European stars on the flag, we will soon see our own - Ukrainian".
Olena Duma, Head of the Asset Recovery and Management Agency, began her speech at the conference "Compensation for Damage Caused by War".
The public event, where participants discussed algorithms for compensation and redress, took place on November 21, 2023.
In her speech, the Head of ARMA informed the participants about the Agency`s key competencies in finding, tracing and improving the sale of sanctioned assets. She emphasized the importance of the Agency's work in collaboration with the Cabinet of Ministers of Ukraine and the Verkhovna Rada in developing and improving regulations and legislative acts related to the development of mechanisms for the recovery and sale of seized assets for the benefit of the state.
"We have managed to approve new, transparent, and competitive rules for the sale of assets at the level of Ukrainian legislation. We are doing this using the experience of European countries and partners. The approval of the new order for seized assets (resolutions 719 and 558) is a great victory, which will now better regulate the possibility of selling seized assets in Ukraine on the 'Prozoro.Prodazhi' platform and abroad. We are demonstrating to the whole world that we are a reliable partner," said Olena Duma.
The Head of the Agency reminded conference participants that ARMA cooperates with 88 countries and 54 international institutions (including CARIN, StAR, Interpol, and Europol networks). Additionally, the Agency has access to 37 Ukrainian registers that allow it to trace corrupt and sanctioned assets in Ukraine. According to the Head of ARMA, the Agency is the best tool for tracing assets related to the aggressor state and its satellites abroad.
Simultaneously, the "Peace Formula", presented by the President of Ukraine, should form a plan for the country's recovery. We have to demonstrate that the found and traced assets under sanctions are working to the reconstruction of our country and the fight against an aggressive enemy.
