Business news from Ukraine

Verkhovna Rada plans to allow forced seizure of property during war

29 July , 2022  

The Verkhovna Rada intends to allow the forced seizure of property during the war.
The relevant bill No. 7605 “On Amendments to Certain Laws Regarding the Optimization of Certain Issues of Forcible Expropriation and Seizure of Property under the Legal Regime of Martial Law” was supported by the people’s deputies in the first reading (256 votes in favor) at the plenary session on Friday, MP Yaroslav Zheleznyak said (fraction “Voice”) in Telegram.
The bill proposes to allow the forcible seizure of equipment that can be used for the purposes of the military-industrial complex. Such actions are carried out on the basis of a decision of the National Security and Defense Council of Ukraine on a proposal agreed with the regional military administration.
The document provides that compensation for the alienated property is carried out at the expense of the state budget (within 5 subsequent budget periods).
According to the bill, movable and immovable property can be transferred to the management of the National Agency for the Detection, Search and Management of Assets Obtained from Corruption and Other Crimes (ARMA).

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