The Cabinet of Ministers of Ukraine approved the confiscation of 903 Russian assets

The Cabinet of Ministers of Ukraine approved the confiscation of 903 Russian assets

The Cabinet of Ministers of Ukraine approved the confiscation of 903 Russian assets

Denis Shmyhal   The Cabinet of Ministers of Ukraine approved the confiscation of 903 Russian assets

The Cabinet of Ministers of Ukraine approved a list of Russian property and assets that will be confiscated in favor of the state. Prime Minister Denys Shmyhal stated this during a government meeting.

“Today the government approved a presidential decree proposing the confiscation of 903 objects belonging specifically to the Russian state. 79 positions are corporate rights, 824 positions are property,” Shmyhal said.

He noted that all objects are divided into three categories: property belonging to the Russian state; assets owned by sanctioned citizens and companies from Russia; assets of Russian banks.

Shmyhal added that the confiscated assets will be converted into cash to be used for the defense and reconstruction of Ukraine.

On May 23, President of Ukraine Volodymyr Zelensky signed a law allowing to confiscate property and assets of persons supporting the Russian invasion in favor of the state.

On March 10, Zelensky signed a law allowing forcible seizure of the property of Russia and its residents. According to the law, the seizure will be carried out without any compensation for the cost, “given the full-scale aggressive war that the Russian Federation has unleashed and is waging against Ukraine and the Ukrainian people.”