Ukrainian parliament yet to allow ARMA to manage Russian assets without owner's consent

The state Asset Recovery and Management Agency (ARMA) called on the Ukrainian parliament to unblock the possibility of asset management (in the form of shares in the authorized capital or shares) of companies with Russian owners without their consent, the head of ARMA, Olena Duma, said during the congress "Reform of the Public Finance System – the Path to the Restoration of Ukraine".

As of 2024, about 1,000 assets where 100% of corporate rights belong to Russians, and more than 3,000 assets where they have less than 100% have been transferred to ARMA.

"We cannot control them. This is absurd," Duma said.

Last year, the Verkhovna Rada registered draft law No. 6233, which was supposed to correct this problem, but was eight votes short of its adoption in the first reading.

The Duma called on the legislature to consider the updated version.

"There is bill No. 10069, it is already included in the agenda. It concerns the same issue – to unblock the agency's ability to manage seized assets of the Russian Federation," Duma said.

MP Yaroslav Zheleznyak (Golos), who was present at the congress, said that this issue could be considered in the near future.

ARMA works with the property of those involved in criminal proceedings. The agency's task is to preserve seized private property until the court confiscates it or returns it to the owner.