The National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA) is systematically working to ensure that seized assets benefit the state and society even before the completion of criminal proceedings.
One of the Agency’s important areas of work is the use of certain seized assets to meet the needs of internally displaced persons (IDPs). The relevant mechanism is provided for by Article 21-1 of the Law of Ukraine “On ARMA”, which defines the specific features of asset management in exceptional cases. In particular, it provides for the use of such assets for the temporary accommodation of IDPs.
The transfer of such assets may be carried out either following a competitive selection of an asset manager or, in exceptional cases, under a special procedure. This makes it possible to use seized assets to address urgent humanitarian needs while ensuring their effective management and preservation of their economic value. This includes, in particular, hotels, sanatoriums, apartments, houses and other residential premises located in various regions of Ukraine.
Currently, the total area of assets that could potentially be used for these purposes amounts to approximately 36.7 thousand square metres. Based on an indicative standard of 9 square metres per person, this would make it possible to provide temporary accommodation for more than 4,000 internally displaced persons.
“ARMA is not only about preserving the economic value of seized assets. It is also about responsibility towards society. We are convinced that assets seized from criminals or persons connected with the aggressor state must serve the interests of Ukraine and its citizens. Meeting the needs of internally displaced persons is one of the key social priorities that the Agency is currently working on”, Acting Head of ARMA Yaroslava Maksymenko said.
In the context of the full-scale war, supporting Ukrainians who have been forced to leave their homes remains one of the priorities of the state policy. That is why ARMA is working to ensure that seized assets can perform not only an economic but also a social function, while fully complying with the requirements of the law and the principles of transparency and effective asset management.
ARMA’s social mission is not limited to ensuring the preservation and effective management of seized assets, but also includes creating added value for the state and its citizens. The Agency will continue working on solutions that make it possible to transform seized assets into a real resource for supporting Ukraine and its people.
