Zelensky signs bill allowing Ukraine to confiscate assets of Russia supporters

Authored by i24news.tv and submitted by ExactlySorta
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The law is aimed at replenishing Ukraine’s budget ‘at the expense of enemies’

Ukraine’s President Volodymyr Zelensky signed a law on sanctions related to assets of individuals supporting the Russian invasion, which was adopted by the Ukrainian parliament on May 12.

The bill establishes a new type of sanction in the form of seizure for the state revenue of assets belonging to individuals, as well as assets they can “directly or indirectly use,” according to the president's official website.

“The procedure of identifying and confiscating assets of sanctioned persons who in one way or another support the aggression of the occupiers against Ukraine will allow us to quickly and effectively replenish the Ukrainian budget at the expense of our enemies,” Zelensky’s statement said.

According to the document, the Justice Ministry will be responsible for the implementation of state policy in the field of recovery of state assets. It will identify and search for assets of individuals and legal entities following the decisions of the National Security and Defense Council of Ukraine.

Administrative proceedings sanctioning the recovery of assets into state revenue will be conducted by the Supreme Anti-Corruption Court.

Earlier in March, the Ukrainian Parliament passed a law regulating the seizure of Russian property in Ukraine. The document allows the nationalization of property and funds of legal entities as well as funds of individuals from Russia.

In May, a decree was signed on the seizure of assets of Ukrainian subsidiaries of Russian bank Sberbank and the state corporation VEB.RF.

US President Joe Biden also proposed legislation allowing Washington to send funds seized from Russian oligarchs to support Ukraine.

On Sunday Ukrainian legislators ratified two presidential decrees extending marital law and general mobilization in Ukraine for another three months.

Method__Man on May 23rd, 2022 at 19:57 UTC »

No different than any other country being invaded by fascists. Look at ww2, western powers often exercised the same thing to prevent the spread of fascist Germany

Silly_Chocolate_7847 on May 23rd, 2022 at 12:59 UTC »

I mean no politician would ever blindly accuse someone of russian backing just to shut them down. That never happens

Professional-Bee-190 on May 23rd, 2022 at 12:57 UTC »

“The procedure of identifying and confiscating assets of sanctioned persons who in one way or another support the aggression of the occupiers against Ukraine will allow us to quickly and effectively replenish the Ukrainian budget at the expense of our enemies,” Zelensky’s statement said. 

Not much to go off with regards to who is a sanctioned individual specifically.