Rada Approves Grounds And Procedure For Forced Seizure In Ukraine Of Objects Of Property Rights Of Russia And Its Residents

The Verkhovna Rada has approved the grounds and procedure for the forced seizure in Ukraine of objects of property rights of Russia and its residents.

The Rada has said this in a statement, Ukrainian News Agency reports.

The forced seizure in Ukraine of the property of Russia and its residents is carried out on the basis of social necessity, while the forced seizure in Ukraine of objects of property rights of Russia and its residents is carried out without any compensation (reimbursement) of their value, given the full-scale aggressive war on the part of Russia.

The decision to forcibly withdraw objects of property rights in Ukraine of Russia and its residents is taken by the National Security and Defense Council (NSDC) and put into effect by a decree of the President of Ukraine, and a draft decision is submitted to the NSDC for consideration by the Cabinet of Ministers.

Not later than six months after the abolition or completion of martial law in Ukraine, a presidential decree enacting the decision of the NSDC on compulsory seizure in Ukraine of objects of property rights of Russia and its residents, is subject to approval by the Verkhovna Rada by adopting the relevant law.

At that, objects of property rights of Russia and its residents, forcibly seized in accordance with this law, are transferred for economic management on a temporary or permanent basis to a specialized state enterprise, which, if necessary, is created by decision of the Cabinet of Ministers on the basis of the seized objects.

At that, the objects of property rights of Russia and its residents, the registration of ownership of which is not required in accordance with the law, become the property of the state from the moment the decision of the NSDC on the forced withdrawal of these objects in Ukraine is put into effect by the decree of the President of Ukraine.

As Ukrainian News Agency earlier reported, the Verkhovna Rada of Ukraine Committee for Economic Development is developing a bill that proposes to nationalize all property, facilities, funds and deposits of the aggressor state located on the territory of Ukraine.