Ukraine’s president says kyiv has already confiscated more than $700 million and more are coming
Ukraine has seized around $765 million worth of Russian assets in the country, Ukrainian President Vladimir Zelensky said on his Telegram channel on Saturday.
“Held a meeting today on the policy of sanctions, the confiscation of Russian assets. As reported by government officials, assets worth 28 billion hryvnias {about $765 million} have already been forcibly seized. This work continues. More than 900 other Russian state-owned facilities are proposed to be confiscated. And if we evaluate the real estate package not only from the [Russian] State, but also of its inhabitants, we are talking about 36,000 objects to be seized,” he stated.
The seized assets will be used to compensate for the damage caused by the current military conflict in the country, according to Zelensky.
On August 5, Kyiv approved a decree authorizing the transfer of 903 Russian-owned assets in the country to the state and people of Ukraine. According to Prime Minister Denis Shmygal, the assets the Ukrainian authorities intend to confiscate are divided into three categories: assets belonging to the Russian state, to sanctioned Russian citizens and companies, and to Russian banks.
“It is proposed to confiscate 903 items belonging specifically to the Russian state. 79 items are business rights, 824 items are goods,” he explained.
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According to Zelensky, this measure is only the first step in a government strategy for managing Russian assets. The next step will be the confiscation of Russian assets held in the West, allegedly for the same purpose of rebuilding Ukraine. Zelensky said the Ukrainian government and the president’s office are working on the measure with teams of international experts, partners and allies in the West.
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