Asset confiscation approved for supporting Russia's invasion


May 23, Fineko/ President Volodymyr Zelensky of Ukraine signed the law adopted by the Verkhovna Rada on May 12, 2022 “On amendments to certain laws of Ukraine in connection with increasing the effectiveness of sanctions against the assets of individuals”, ABC.AZ reports with reference to the Ukrainian President’s office.

The Law establishes a new type of sanctions by seizing property belonging to individuals or legal entities, as well as property at its direct or indirect disposal, in favor of the State.

"The confiscation of assets of sanctioned persons who somehow support the aggression of the occupiers against Ukraine will make it possible to quickly and effectively replenish the Ukrainian budget at the expense of enemies. The law gives clear instructions to the authorities responsible for this process. I hope for fruitful cooperation of all its participants,” the Ukrainian leader said.