The Head of the National Asset Recovery and Management Agency (ARMA), OlenaDuma, despite the withdrawal of the draft law 12374-d from consideration at the meeting of the Verkhovna Rada Committee on Ukraine's Integration into the European Union at the request of the author of the draft law and the postponement of its consideration to the next meeting, took the floor to discuss the reform of ARMA in the context of Ukraine's European integration commitments.

During the meeting, the Head of the ARMA expressed the Agency's position on the draft law No. 12374-d. According to her, although ARMA supports the further transformation of the Agency, the proposed new approaches to the management of seized assets contradict the norms of the European Union and Ukraine's international obligations.

“Ukraine has committed itself to implementing European standards for the management of seized assets. The transfer of these functions to insolvency receivers contradicts the established EU practice, Directive 2014/42/EU and FATF recommendations,” emphasized Olena Duma.

The Head of ARMA also noted that the adoption of the draft law in its current version could be viewed by the European Union as a rollback of reforms and a threat to Ukraine's European integration course.

The day before, during consultations with the European Commission on the Rule of Law Roadmap, ARMA representatives also expressed concern about the risks posed by draft law No. 12374-d in the area of management of seized assets.