ILI experts analyzed the effectiveness of managing seized assets over the past year

In 2025, the state budget received over UAH 2.17 billion in revenues from seized assets transferred to the Asset Recovery and Management Agency (ARMA), exceeding the initial expectations of UAH 231.9 million in guaranteed payments. This is stated in an analytical study by the Institute of Legislative Ideas.

“Out of 41 assets under management, 15 generated payments ranging from UAH 100,000 to 1 million, while another 9 assets brought in between UAH 1 million and 10 million. At the same time, only one asset each generated revenues in the ranges of UAH 100 million to 1 billion and over UAH 1 billion, respectively,” ILI analysts noted.

According to their estimates, 98% of total revenues were generated by five energy assets managed by PJSC Ukrnafta, amounting to UAH 2.137 billion. The most effective managers also included the companies “Kombinat Plus” (UAH 13.2 million), “IC “TVK”” (UAH 1.33 million), “AVGM-GRUP” (UAH 778,000), and “ENVIL” (UAH 459,000).

“The largest revenues were generated by a few major energy assets. At the same time, 8 assets (around 20%) showed zero profitability due to delays in asset transfer procedures, which in some cases exceeded one year or did not take place at all, as well as due to the inability to actually start managing the assets,” the experts noted.

Among the most notable examples of ineffective management, ILI highlighted: the “Flagman” shopping center in Ivano-Frankivsk, where despite revenues of UAH 3.7 million, a repeated procedure to select a manager has already begun, followed by contract termination; the Trade Unions Building in Kyiv, which has debts to the state budget despite generating over UAH 10 million in income; 141 railway cars, whose manager reported an inability to physically access the assets.

“The formal existence of a contract and even partial revenues are not always indicators of effectiveness. The most problematic assets remain those where managers have debts to the budget or where there are physical barriers to accessing the property, such as railcars and vessels. At the same time, ARMA’s control system demonstrates the ability to respond strictly – from warnings to full termination of relations with ineffective managers,” the study states.

Among the recommendations, ILI analysts call for: continuing the practice of transferring complex assets into management, as they have the potential to generate significant budget revenues; ensuring 100% transparency on the Prozorro platform and conducting audits of zero-profit assets; accelerating the signing of handover acts to avoid zero revenues; strengthening sanctions for the accumulation of debt.