Pavlo Velykorechanin, Deputy Head of the Asset Recovery and Management Agency(ARMA), spoke about the role of the Asset Recovery and Management Agency(ARMA) in tracing assets withdrawn from Ukraine during the IV session“Compensation for Losses. Sanctions. Asset Recovery and Management” at the XV KYIV CRIMINAL LAW FORUM.

“These are tens of billions of dollars, luxury real estate, cars, airplanes, ships andweapons. For such a global search, ARMA cooperates with top internationalinstitutions and networks of which we are members: CARIN, BAMIN, EUROPOL, INTERPOL and others. The National Agency is an important bridge between thestate of Ukraine and international partners in the field of identification, tracing andmanagement of seized assets, and we continue to strengthen such cooperation,” emphasized Pavlo Velykorechanin.

He told the conference participants that ARMA regularly exchanges information withcountries such as the UK, Latvia, Lithuania, Czech Republic, Poland, Austria, Germany, Croatia and Spain.

The conference focused on the need to seize these assets and transfer them to ARMA. This requires sending a request from the Prosecutor General's Office for thelegalization of such a court decision abroad as part of international legal assistance.

The Deputy Head of ARMA reminded that the National Agency is initiating changesto Article 545 of the Criminal Procedure Code. These changes will allow ARMA todirectly apply to foreign authorities with requests for mutual legal assistance (MLA) in the field of asset management. This will significantly speed up the process ofreturning funds to the state.

As a reminder, during her participation in the XV KYIV CRIMINAL LAW FORUM, ARMA Head Olena Duma spoke about the role of ARMA in Ukraine's sanctionspolicy and the plan to strengthen it, the implementation of High Anti-CorruptionCourt decisions, the search for sanctioned assets abroad and the purchase ofgovernment bonds with seized funds.