State Property Fund establishes new department to manage confiscated assets
Photo: SPFU

The State Property Fund of Ukraine is creating a new structural unit, the Sanctioned Property Management Department, which will deal with assets confiscated from sanctioned persons, reported the press service of the Fund.

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"The newly created unit will manage the seized assets of the Russian Federation and its residents, organize joint work with the High Anti-Corruption Court, the Ministry of Justice, the National Security and Defense Council and other law enforcement agencies on the recovered assets, as well as ensure preparation for their lease or privatization," the statement said.

On July 3, the State Property Fund opened a vacancy for the head of the new department.

His duties include management of recovered assets, their accounting, preparation for lease or privatization, etc.

On June 9, the Cabinet of Ministers transferred the share of the Ocean Plaza shopping center confiscated from the Russians to the State Property Fund and instructed it to prepare it for privatization.

Earlier, the Fund received the confiscated assets of Russian oligarch Vladimir Yevtushenkov (five companies that own 17 real estate properties in Zaporizhzhya and other localities), as well as Demurinsky Mining and Processing Plant, which belonged to Russian businessman Mikhail Shelkov.