The National Asset Recovery and Management Agency took part in a professional roundtable discussion “Sanctions Policy and Management of Seized Assets in the Field of Subsoil Use: Challenges, Conclusions, Prospects” hosted by the NADRA.INFO news agency. The event brought together representatives of public authorities, sectoral businesses and the public.
Participants discussed the effectiveness of sanctions procedures, approaches to managing seized and temporarily blocked subsoil assets, and systemic obstacles to implementing relevant court and the National Security and Defense Council of Ukraine decisions.
In her speech, ARMA Head Olena Duma emphasized:
“Among the thousands of assets transferred to ARMA for management, a significant portion relates to subsoil use. Currently, ARMA is implementing at least 19 court decisions concerning subsoil assets. These decisions involve 36 companies whose special permits or corporate rights have either been seized or are simultaneously subject to sanctions. This complex legal landscape underscores the need for a legislative solution to ensure effective management of such assets.”
The Head of the Agency emphasized that most of the seized subsoil-related assets are simultaneously included in sanctions lists — a factor that not only complicates their management but also strengthens the legal grounds for acting in the interests of the state.
“Today, we can speak not only about seized subsoil assets but also about reinforced ones — that is, subsoil assets already benefiting the state. We have several positive examples of effective management: the Sakhalin field, the Ovruch crushed stone plant, Service Oil, and Medvedchuk’s pipeline — all these assets are already working in Ukraine’s interests,” noted Olena Duma.
As part of the discussion, Ihor Chuloi, Director of ARMA's Asset Management Department, called on businesses to join the competitive selections:
“ARMA is currently conducting open competitions for the selection of managers for assets belonging to the UNIGRAN Group. We encourage business representatives to submit their applications and contribute to the effective management of assets that are of significant economic importance.”
At the same time, to overcome systemic barriers in asset management, ARMA has initiated the development of 12 draft laws — four of which are aimed at addressing legal gaps and establishing a more efficient model for managing various categories of assets, including those related to subsoil use.
“ARMA continues to shape state policy by ensuring transparent, professional, and economically effective management of assets that are strategically important for Ukraine.”
