During the years of independence, more than $100 billion was withdrawn from Ukraine abroad. This was reported by the Agency for Search and Asset Management (ARMA). The organization has developed a new procedure for the return of seized assets, but the process requires the involvement of a competition commission for its implementation.
This was reported by the head of the National Agency for Identification, Search and Asset Management (ARMA) Olena Duma.
"We have analyzed that as of today we can talk about the figures of more than $100 billion as a dynamic figure that is located abroad," she noted.
In order to return such assets, ARMA in July 2023 developed and approved the procedure for the sale of seized assets abroad. However, as Duma explained, ARMA cannot independently choose the buyer of such assets. The Agency is obliged to create a tender commission, which includes representatives of the Ministry of Economy and the Ministry of Justice. The commission selects the auction organizer based on eight criteria.
The head of ARMA clarified that for the sale of assets, their type is taken into account. So, for yachts, a global auction house can be chosen, for real estate - real estate agencies, and for works of art - specialized sites.
