10:01 03.03.2022

Profile Rada committee backs bill on nationalization of assets, funds of residents of Russia in Ukraine

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The economic committee of the Verkhovna Rada unanimously supported the bill on the nationalization of assets and money of legal entities from the aggressor country Russia in Ukraine, MP Yaroslav Zhelezniak has said.

As he wrote in the Telegram channel, the committee made the decision on the evening of March 2.

Bill No. 7122 on the basic principles of forcible seizure of objects of property rights of the Russian Federation and its residents in Ukraine, among the authors of which are the heads of the Servant of the People, European Solidarity, Holos and Batkivschyna parliamentary factions, was submitted to the Verkhovna Rada on March 2.

According to it, the decision to forcibly confiscate objects of the property rights of the Russian Federation and its residents in Ukraine is taken at the initiative of the Cabinet of Ministers by the National Security and Defense Council of Ukraine and is put into effect by a president's decree. The draft decision shall contain: a list and identification of objects of property rights subject to compulsory seizure; names of persons whose objects of property rights are subject to compulsory seizure; the timing of the forced withdrawal of each object.

According to the document, no later than six months after the abolition or completion of martial law in Ukraine, the president's decree on such a forced withdrawal is subject to approval by the Verkhovna Rada by adopting an appropriate law.

The forcibly seized objects of the property rights of the Russian Federation and its residents, as indicated in the bill, are transferred to economic management on a temporary or permanent basis to a specialized state-owned enterprise, which, if necessary, is created by decision of the Cabinet of Ministers on the basis of the seized objects. The decision of the court to secure the claim does not stop the decision on compulsory seizure, the MPs said in the document.

"This law does not exclude or restrict the rights of the state of Ukraine to demand, in accordance with the norms of international law, that the state of the Russian Federation be held accountable, including to demand compensation for damage caused as a result of the aggressive war that the Russian Federation unleashed and is waging against Ukraine in violation of the norms of international law, committing crimes against humanity," the MPs said.

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