The Cabinet of Ministers of Ukraine approved the decree of President Volodymyr Zelensky on the confiscation of Russian property and assets in the country, 903 objects fall under confiscation. Prime Minister of Ukraine Denys Shmygal announced this at a government meeting, the statement was published on the government website.
The assets will be seized in favor of Ukraine and the Ukrainian people, the statement said.
Shmyhal specified that all property that is planned to be confiscated is divided into three categories: property belonging to the Russian state; assets of sanctioned citizens and companies from Russia; assets of Russian banks. According to Shmyhal, 79 items are corporate rights, 824 items are property. All confiscated assets will be converted into funds, they will be directed to the defense and reconstruction of the country.
The Prime Minister also concluded that the next step should be the confiscation of Russian assets in the West in order to restore Ukraine:
“Both the government and the Office of the President are working on this with teams of the best lawyers and with teams of international experts, our partners and allies.”
On July 14, after a Russian strike on the center of Vinnitsa, Ukrainian President Volodymyr Zelensky issued an address in which he called on Western countries, in particular the United States, to recognize Russia as a terrorist state. After that, the deputies of the Just Russia – For Truth faction submitted to the State Duma a bill on recognizing Ukraine as a terrorist state and on confiscation of the property of its citizens in favor of Russia. The draft law also deals with the procedure for recognizing other foreign states as "terrorist" or "sponsors of terrorism". Which countries will be included in the list will be decided by the government.