Russian assets in Ukraine are under the hammer

They want to auction off the assets in order to finance the reconstruction of the country

Umerov said.

Our goal is to take everything into state hands, process it and sell it

he declared.

We want these companies to work for the Ukrainian state and residents – underlined Umerov, who said that this year 102 assets – including cars and real estate – will go under the hammer.

Russian companies played a decisive role in some Ukrainian industrial sectors. At the same time, no one has assessed the value of these assets, Umerov said, although he acknowledged that replacing them is now a complicated process involving various government and law enforcement agencies.

Seized and nationalized property can only be transferred to the state treasury after a court decision

– stressed the Ukrainian official, who says that they are currently working on this. The first auctions can be held at the end of spring or the beginning of summer.

Volodymyr Zelensky Following the Russian military operation in Ukraine, the Ukrainian president imposed sanctions against Russian citizens in several decrees, including oligarchs who have significant assets in Ukraine. Among other things, the decrees allow the initiation of legal proceedings for the purpose of asset confiscation.

As an example of the work of the Ukrainian state trust fund, Umerov named the Demurinsky mining and processing company, the world’s leading producer of titanium, which supplies the space and aviation industry. The company was seized from the Russian owner in February. In the meantime, the production of the company employing 284 employees was partially restored. According to Umerov, they hope to be able to sell it this year.

Cover photo: Aerial view of residential buildings destroyed to the ground in Marinka, eastern Ukraine, on May 11, 2023. Fierce fighting has taken place in the region in the past period, while Russian troops tried to break through the Ukrainian defense lines in the direction of the settlements of Marinka, Oleksandropol, Krasnohorivka, Avdijivka and Piszki. MTI/AP/Libkos

Source: – Gazdaság by

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