The Asset Recovery and Management Agency (ARMA) expresses its full support and gratitude for the legislative initiative of the President of Ukraine aimed at unblocking the management of seized assets of the russian federation and its residents without the need for their consent.
Draft Law No. 13268 on the just use of seized assets of the russian federation and its residents in the interests of national security introduces fundamental legal changes that will significantly strengthen the legal framework for managing the property of the aggressor state.
"I am grateful to the President of Ukraine for this strategically vital legislative initiative. Draft Law No. 13268, submitted to the Verkhovna Rada, will finally enable the management of seized russian assets without owner consent. The economic weapon will begin to work in full force!"- Olena Duma, Head of ARMA.
The proposed legislative initiative applies to three critical categories of seized assets
movable property — may be transferred for sale without the owner’s consent by decision of an investigating judge or court, if the property is owned by citizens of the russian federation (excluding those legally residing in Ukraine), legal entities registered in the russian federation, or companies whose ultimate beneficial owners are russians holding 10% or more of the capital;
real estate — may also be sold without the owner’s consent prior to a final court verdict, under the same ownership criteria;
corporate rights - a manager of assets in the form of shares in the authorized capital, stocks, or units is not obliged to coordinate its actions with the owner if the asset is directly or indirectly owned by the russian federation, its citizens or legal entities.
ARMA has already addressed the Verkhovna Rada of Ukraine and other competent authorities, formally expressing its position on the need to support and adopt this draft law. The Agency considers this legislative initiative strategically important in the context of countering russian aggression and ensuring additional revenues to the state budget.
In addition, the draft law allows for the establishment of a “moratorium” on the return of funds if the seizure of assets belonging to russian citizens and residents is canceled. This provision is strategically important for protecting Ukraine’s national interests in potential future legal proceedings arising from russian aggression.
The adoption and implementation of this law will not only enhance the legal framework for managing seized assets of the russian federation but will also contribute to replenishing the state budget of Ukraine, which is especially important in times of war.
ARMA urges Members of Parliament to support this legislative initiative, which is a significant step toward strengthening economic resistance to the aggressor state and ensuring fair compensation for the damage caused to Ukraine.
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