Fund for Liquidation of Consequences of Armed Aggression tells where it spent assets confiscated from russians

From January to October 2023, expenditures from the Fund for the Liquidation of the Consequences of Armed Aggression amounted to UAH 35.6 billion. Or 58% of the total amount of the Fund in the state budget for 2023, which is almost UAH 61.8 billion.

This is reported by the analytical center StateWatch with reference to the report of the State Treasury Service of Ukraine on the receipt and use of funds of the Fund for the Liquidation of the Consequences of Armed Aggression for January-October 2023.

Thus, it is reported that, in total, UAH 44.8 billion was received by the Fund this year. The proceeds consisted of funds received from the National Bank of Ukraine (UAH 35.9 billion) and funds received from the recovery and seizure of russian assets on the territory of Ukraine (UAH 8.9 billion). UAH 8.8 billion of them were obtained as a result of the seizure of sovereign assets, and another UAH 114 million were collected as part of the implementation of the Law "On Sanctions".

In addition, the total amount of the Fund in 2023 also included UAH 17 billion received from the seizure of sovereign russian assets in 2022. It is about the withdrawal of Ukrainian subsidiary banks Sberbank and Web.RF (International Reserve Bank and Prominvestbank), the nationalization of corporate rights and financial assets of which took place according to the decision of the National Security and Defense Council (NSDC) dated May 11, 2022.

It is noted that funds were fully spent only under the program "Subsidy to local budgets for the liquidation of the consequences of armed aggression" - UAH 11.4 billion.

The largest amount of funds in 2023 was allocated to the protection of critical infrastructure facilities of the fuel and energy sector - UAH 12.2 billion, or 65% of the planned amount (UAH 18.9 billion).

In contrast, three programs had no expenditures as of October 2023. These are 2 programs aimed at the restoration of residential objects damaged/destroyed as a result of the undermining of the Kakhovka HEPP, and the provision of compensation for such objects (UAH 1.3 billion under two programs), as well as another program of financial support for the protection of objects of critical infrastructure of the fuel and energy sector (UAH 9.7 billion).

As Ukrainian News Agency earlier reported, in November 2022, President Volodymyr Zelenskyy signed the law on the creation of the Fund for the Liquidation of the Consequences of Armed Aggression.

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