The Asset Recovery and Management Agency (ARMA) continues its systematicwork on the assessment of seized assets and the selection of asset managers.

In particular, ARMA has announced a competition for the selection of an assetmanager for assets that belonged to sanctioned oligarch Kostiantyn Zhevaho. Thisconcerns real estate owned by LLC «Modern Commercial Real Estate». Thecompetition is available via the following link: Prozorro.

As part of the ARMA reform, all procedures are carried out according to clear criteriafor evaluating asset managers, using transparent competitive mechanisms and a system for monitoring asset management results. Such approaches ensure theminimization of corruption risks and competitive selection conditions.

In addition, ARMA is taking measures to replace the manager of the «KRYSHTAL»business center — one of the seized assets of LLC «Guta-Sklo», which belonged torussian citizens Viktor Vinogradov and Andrii Ippolitov, who are subject to sanctionsin accordance with the decision of the National Security and Defense Council ofUkraine. The competition is available via the following link: Prozorro.

It should be noted that Ukraine is currently shaping the practice of managing theassets of sanctioned persons under the real conditions of war and economic pressure. The main principle remains unchanged: assets linked to Russian capital, as well asassets seized in criminal proceedings related to corruption and other crimes, mustwork for the Ukrainian economy and the Ukrainian state.