The National Asset Recovery and Manegement of Assets (ARMA) and the State Service ofMaritime and Inland Water Transport and Navigation of Ukraine are taking decisive actions toprevent the illegal departure of seized vessels beyond the territory of Ukraine. The head of ARMA and the head of the Maritime Administration held a working meeting to strengthen oversight overseized russian ships.

The authorities possess and verify any information that could negatively affect the preservation ofseized assets and take necessary security measures.

During the meeting, the management of seized vessels located in Ukrainian ports was discussed. Currently, ARMA manages 16 such vessels, each of which holds significant potential forreplenishing the state budget.

Particular attention was given to the situation regarding the vessel EMMAKRIS III, one of the mosthigh-profile among the ten seized ships transferred to the management of the private company"Marinex." One of the key issues is preventing the vessel from leaving Ukrainian waters evenduring its relocation to optimize port space.

Earlier, ARMA, following a decision by the Pechersk District Court of Kyiv, appealed to theGeneral Prosecutor’s Office (GPO), the National Police of Ukraine (NPU), the Main IntelligenceDirectorate (HUR), the Security Service of Ukraine (SBU), the Ministry of Regional Development(MinRegion), the State Border Guard Service (DPSU), the Administration of Sea Ports, theMaritime Administration, and the State Enterprise "Commercial Sea Port of Chornomorsk" toprevent the departure of the seized vessel EMMAKRIS III from the port area.

At the same time, ARMA warned the manager against taking any actions that would contradict thecourt’s ruling.

Olena Duma emphasized that decisions regarding the relocation of seized vessels within portsshould not affect existing management agreements or revenue to the state budget, as the managerhas already been selected, and ARMA will adhere to the terms of the signed contract.

“The release of space in the ports, while ensuring revenue for the State Budget of Ukraine, isexactly what effective management of seized vessels is about. We are interested in ensuring theState receives the maximum income from such management, while optimizing port spaces,” stressed Olena Duma, Head of ARMA.

Mykola Kravchuk assured that the Maritime Administration has already informed port captains ofthe ban on ships leaving ports as determined by the court's decision, and relocation is only possiblewithin the port area.

ARMA has the capability to track vessel movements in real-time. This allows for the prevention ofpotential violations and guarantees transparency in the management processes.

The parties agreed that seized vessels should not remain idle at docks, blocking port operations andlosing economic value. A more effective management mechanism for such assets is their sale basedon relevant court orders.

To this end, in late 2024, ARMA and the Maritime Administration sent a joint statement to theNational Security and Defense Council of Ukraine. Separately, ARMA also sent a letter to the Headof the Security Service of Ukraine, requesting support for this initiative at the NSDC level.

In ARMA’s view, changing the management method—through the sale of seized vessels—willallow:

✅ To preserve the value of physical evidence through its sale;

✅ To stop the accumulation of port fee debts and unblock docks;

✅ To ensure state budget replenishment under martial law conditions.

A vivid example of this is the sale of the 80%-worn russian oil tanker Nika Spirit for 6.4 millionUAH, which will contribute to the State Budget of Ukraine.