Zelenskyy Suggests Rada Approve Decree On Forced Seizure Of Property Of Russian Federation In Ukraine

President Volodymyr Zelenskyy has suggested that the Verkhovna Rada approve a decree on the forced seizure of the property of Russian Federation in Ukraine.

This is stated in bill No. 7371 of May 11, Ukrainian News Agency reports.

The document proposes to approve the signed presidential decree on the enactment of the decision of the National Security and Defense Council of May 11, 2022 "On the forced seizure of property of the Russian Federation and its residents in Ukraine."

The explanatory note indicates that the bill must be adopted in order to mobilize the necessary resources to protect the state sovereignty, territorial integrity and independence of Ukraine, its national interests in the context of a full-scale aggressive war, which the Russian Federation has unleashed and is waging against Ukraine and the Ukrainian people.

According to the legislation, the presidential decree on the enactment of the NSDC decision on the forced seizure of property of the Russian Federation and its residents in Ukraine, no later than six months after the abolition or completion of martial law in Ukraine, is subject to approval by the Rada by adopting the relevant law.

As Ukrainian News Agency earlier reported, the Ministry of Economy reports that the forced seized objects of ownership of Russia and its residents will be transferred to the National Investment Fund state-owned enterprise.

In early March, the Verkhovna Rada approved the grounds and procedure for the forced seizure of property of Russia and its residents in Ukraine.

On April 1, the Rada extended the grounds for the forced seizure in Ukraine of property rights to individuals and legal entities of Russia.

On March 31, 2021, the Cabinet created the National Investment Fund.