Head of Projects at the Institute of Legislative Ideas Taras Riabchenko commented on the disappointing performance of ARMA in 2025 during a broadcast on Hromadske Radio
In 2025, the Asset Recovery and Management Agency (ARMA) managed to sell seized assets worth just over UAH 200 million, compared to expectations of around UAH 1 billion. This was stated by the Head of Projects at the Institute of Legislative Ideas, Taras Riabchenko, during a broadcast on Hromadske Radio.
“Overall, about 100 unique assets were put up for sale during the year, but only 40 were actually sold. Some lots were re-listed multiple times but still failed to attract buyers,” the expert noted.
He explained the low efficiency by both internal factors within ARMA and market conditions. In particular, this concerns the selection of assets for sale, how they are grouped into lots, the frequency of auctions, and communication with potential buyers.
“At the same time, limited demand is also an important factor – businesses are cautious about seized property. This is a specific category of assets that is not ideal for quick purchase, so demand remains constrained,” Taras Riabchenko added.
According to him, after legislative changes in 2023, the sale of such assets has been carried out through the Prozorro.Sale system, which has increased transparency and efficiency. However, the system’s full potential is still not being utilized.
“Analysis shows that asset liquidity varies significantly. For example, vehicles are sold quickly and often at higher prices during auctions, while more complex assets – such as land plots or artworks – may remain unsold for years even after repeated price reductions,” the ILI expert explained.
He noted that some assets have to be auctioned multiple times with gradual price decreases. In certain cases, the price drops several times before a buyer appears.
“Even selling at a significantly lower price is considered a positive outcome, as the funds are directed to support the state, including through the purchase of war bonds,” Taras Riabchenko said.
Among the key recommendations, the expert highlighted prioritizing liquid assets, breaking large lots into smaller ones, improving communication about sales, and expanding outreach to businesses. He also suggested considering the sale of certain categories of real estate, including assets owned by Russian citizens, to increase state budget revenues.
“Greater transparency and effective communication can strengthen business trust in the state and increase competition at auctions, ultimately allowing assets to be sold at higher prices,” Taras Riabchenko concluded.