In an interview for the ‘Schemes’ program, the Head of the Institute Tetiana Khutor spoke about the situation with the confiscation of Russian assets in Ukraine

In May 2022, the National Security and Defence Council seized the corporate rights and financial assets of the Russian Sberbank and the Russian state corporation Web. RF.

‘About UAH 3 billion (17 billion according to the latest data) were confiscated. We are talking about Russian banks. They have already been transferred to the budget. That is, this is the money that we can dispose of,’ explained Khutor.

Thus, the example of the confiscation of Sberbank and Web.RF's financial assets showed that the seizure of Russian state property in Ukraine is possible. Moreover, these funds can fill the Ukrainian budget.

To confiscate private Russian assets, Ukraine has introduced a new mechanism of civil forfeiture - through the imposition of sanctions on specific individuals for supporting Russian aggression and decisions of the High Anti-Corruption Court. 

Thus, as of February 2023, the HACC has issued 13 decisions on the confiscation of assets of those responsible for the war. This mechanism helped to recover the property of three oligarchs - Vladimir Yevtushenkov, Oleg Deripaska, and Mikhail Shelkov.

What property was confiscated? Who is next in line? Why some Russian businesses are still operating in Ukraine - watch the episode of the Schemes program with comments by Tetyana Khutor.

What is being done with Russian assets abroad? Soon we will introduce a confiscation track that will reflect the situation around the world about Russian assets in real time. Follow us on social media to be the first to know.