Kyiv, November 8, 2023
In October, the total revenue to the state budget from the management of seized assets in Ukraine amounted to UAH 14 084 427.
This data was confirmed by the Asset Recovery and Management Agency (ARMA) after completing a desk audit.
The following companies provided the largest budget revenues in the reporting month: “Kraitex-Servis” LLC (UAH 5 751 382), “Naftogazenergia” LLC (UAH 3 750 000), “Vozdvyzhenka Residential Complex” LLC (UAH 2 644 740) and “Ukrtransnafta” JSC (UAH 1 100 000).
Revenues from the management of corporate rights of “Chornomornaftogaz” (manages 26 regional gas companies owned by D. Firtash) and “Ukrnafta” (manages PrJSC MC “Ukrnaftoburinnia”), according to the terms of the management agreements, are expected to be received based on the results of operations in 2023.
The ARMA also expects that the state budget will receive the major share of revenues from the results of “Ukrnaftoburinnia” PrJSC MC, which started its operations in summer due to the change of management from “Ukrnafta” PJSC.
The results of the asset management of “Naftogazenergia” LLC are much less optimistic. According to the terms of the management agreement, the expected monthly cash income from asset management should amount to UAH 89.8 million. However, de facto, “Naftogazenergia” LLC received only UAH 4.8 million in income from asset management in the reporting month and paid only a guaranteed payment of UAH 3 750 000 to the state budget. Following the desk review, ARMA obliged the manager to provide an action plan and a deadline for achieving the expected management results, in accordance with the management agreement.
It is worth noting that in 2022, the ARMA transferred UAH 34.7 million to the budget from the management of seized assets. At the same time, in the first half of this year, the Agency brought UAH 20.6 million to the state budget, and in the whole of 2023, it contributed UAH 64.95 million.
The ARMA will continue to intensify budget revenues to strengthen the country’s defence capability during the war.
