Economy 2024-05-15T05:21:33+03:00
Ukrainian news
State Budget Receives First Billions From Russian Banks Nationalization

State Budget Receives First Billions From Russian Banks Nationalization

state budget, Russian banks, Russian banks nationalization

The state budget has received more than UAH 3 billion got as a result of the seizure of property rights of the Russian Federation and its residents in Ukraine. This was reported by StateWatch with reference to a group of Trap Aggressor analysts who monitor the effectiveness of sanctions. They, in turn, received information from a letter from the State Treasury Service of Ukraine.

It concerns the balances of funds on the accounts of Ukrainian subsidiary banks Sberbank and Veb.rf (International Reserve Bank and Prominvestbank), the nationalization of corporate rights and financial assets of which took place by decision of the NSDC of May 11, 2022.

The amount of revenues amounted to UAH 3,169,094,303.31.

Soon, another tranche is expected of funds stored in accounts with seized Russian banks in foreign currencies.

Trap Aggressor notes that this is the first successful case of the seizure of Russian assets in Ukraine, which ended with the transfer of funds to the state budget.

"According to recent amendments to the Law on the State Budget of Ukraine, in the future the funds will be credited to the Fund for the Elimination of the Consequences of Armed Aggression," the Trap Aggressor explained.

As Ukrainian News Agency earlier reported, it became known what assets of Russians in Ukraine can fall under nationalization. The relevant bill may be considered by the Verkhovna Rada at the next meeting.