The Property of Russia Does Тot Belong to Them Anymore

by Olha Povaliaieva
Wednesday, March 16, 2022
1 MIN
The Property of Russia Does Тot Belong to Them Anymore

The president of Ukraine signed a law on the basic principles of the seizure of the property of the RF and its residents

In Ukraine, objects of Russian property will be confiscated as from the state that started the full-scale war against Ukraine. All facilities will be used to meet public needs. The decision to seize the objects will be taken by the national security and defense council of Ukraine. Among the facilities that will be able to confiscate:

  • Movable and immovable property;
  • Cash, including bank deposits and securities;
  • Corporate rights and other assets.

The sites will be removed without any compensation. The law also provides for the confiscation of property processed through subsidiaries belonging to the Russian Federation and its residents.

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