Zelensky approves law on confiscation of assets for support of special operation

The procedure for the seizure of property and assets prescribed by law will be valid only during martial law, the decision on confiscation will be made by the Supreme Anti-Corruption Court

Volodymyr Zelensky

President of Ukraine Volodymyr Zelensky signed a law on the confiscation of property and assets of persons supporting Russia's special military operation in Ukraine. A message about this was published on the website of the Office of the President of Ukraine.

“The law establishes a new type of sanctions in the form of collecting assets belonging to an individual or legal entity, as well as assets that it can directly or indirectly dispose of, to the state's income,” — says the office of the President of Ukraine.

We are talking about individuals and companies that “in one way or another” support the special military operation that Russia launched in Ukraine on February 24.

Deputies of the Verkhovna Rada adopted this bill on April 21, but the president returned it with a number of comments that the parliament took into account in the new version of the law.

The law states that the confiscation of property for state revenue is “of an exceptional nature and can only be applied to individuals and legal entities who, by their actions, have created a significant threat to the national security, sovereignty or territorial integrity of Ukraine.” Confiscation can only be applied during a period of martial law, provided that the property of an individual or legal entity that has fallen under sanctions has already been seized.

The decision on confiscation should be made by the Supreme Anti-Corruption Court. The list of actions that give rise to the application of this law consists of approximately 30 items. Among them, causing significant damage to the national security of Ukraine and its sovereignty, financing such actions, including through the collection of donations, investing in securities of the “aggressor country”, “glorification of persons” involved in the SVO, maintaining the policy of “non-recognition of the right of the Ukrainian people for self-identification and self-determination”, “the spread of false ideologies based on the deliberately false and manipulative identification of Ukrainian patriotism with “Nazism”; or other misanthropic ideologies;", "incitement of hatred towards the Ukrainian people, their culture, state language, national identity".

Read on RBC Pro Pro Alibaba is trading at a record low price. Is it worth buying Articles Pro Be like us: why Coca-Cola changed its name in China to Ke Kou Ke Le Articles Pro 40% per year is already the norm: how Argentina lives in conditions of record inflation Articles Pro How to make money on it Pro Articles The risk of an eternal bear market is real. In which stocks to sit out the fall Forecasts Pro The iPod era: how Apple created the most popular player in history On March 10, the President of Ukraine signed the law “On the Basic Principles for the Compulsory Seizure in Ukraine of Objects of the Property Rights of the Russian Federation and Its Residents.” According to the document, the seizure of such property in the country will be carried out “without any compensation for its value.”

Russia has been conducting a military operation in Ukraine since February 24. Vladimir Putin called its goal the protection of the population of Donbass from genocide, the demilitarization and denazification of Ukraine. Kyiv then severed diplomatic relations with Moscow, announced a general mobilization, martial law was introduced in the country.

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