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Ukraine started selling confiscated Russian property at online auctions to collect money for the reconstruction of damaged objects

byEuromaidan Press Staff
10/02/2023
1 minute read
Ukraine started selling confiscated Russian property at online auctions to collect money for the reconstruction of damaged objects

The government has approved the procedure for using funds from the Fund for Liquidation of the Consequences of Russia’s Armed Aggression.
In particular, the fund will use money from selling property confiscated from Russia or Russian oligarchs in Ukraine.

It will sell it according to the same rules Ukraine sold state property at auctions before the war, where both domestic and international companies could participate.

“We have frozen and confiscated hundreds of objects belonging to the Russian government or Russian oligarchs in Ukraine. Many of these facilities are now inactive. The government will launch an open and completely transparent sale of this property. This means open auctions, where Ukrainian or foreign businesses can purchase confiscated properties,” the Head of Government noted.

The state budget has already received UAH 17 billion ($500 million) confiscated from Russian banks.

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