Government approves seizing 903 Russian-owned items says Prime Minister Shmyhal

• The administration has given the go-ahead for the seizure of 903 Russian-owned items in Ukraine, according to Prime Minister Denys Shmyhal. 
• Today, the government gave its approval to the president’s decree that calls for the confiscation of 903 Russian state property items.
• 824 things are property, 79 items are corporate rights, “explained Shmyhal.

The administration has given the go-ahead for the seizure of 903 Russian-owned items in Ukraine, according to Prime Minister Denys Shmyhal.

“Today, the government gave its approval to the president’s decree that calls for the confiscation of 903 Russian state property items. 824 things are property, 79 items are corporate rights, “explained Shmyhal.

The head of government pointed out that all of the assets are split into three groups: those that belong to the Russian state, those that belong to Russian individuals and businesses that have been sanctioned, and those that belong to Russian banks.

The seized assets will be turned into money, the prime minister underscored and used for Ukraine’s military and reconstruction.

“We do it systematically and in line with all procedures. We do not replace the law with our wishes, but implement this strategic task in a legal way,” Shmyhal explained.

He suggested that the next action be the seizure of Russian assets in the West for Ukraine’s rehabilitation.

Shmyhal highlighted that “teams of the top lawyers and international specialists, our partners and allies, are working on this with the government and the President’s Office.”

The law titled “On the Basic Principles of Forcible Seizure of Objects of Property Rights of the Russian Federation and its Residents in Ukraine” was approved by President Volodymyr Zelensky on March 10 as was previously reported.

The legislation defines the Russian Federation as a state that has initiated a full-scale war against Ukraine and its citizens as the legal foundation for the forced seizure of property rights (including in situations where military necessity dictates such).

According to the law, Russia and its people’ property rights are forcibly seized in Ukraine without any payment of compensation (reimbursement) for their value.