Assets worth around $1m belonging to Russian-owned company seized in Ukraine

The Ukrainian Ministry of Internal Affairs seized assets worth around $1m from a Russian-owned company based in Ukraine.

As reported in the official Telegram channel of the Ministry of Internal Affairs in Ukraine on Saturday, November 19, law enforcers seized the assets of a Russian company worth around 40 million hryvnias ($1m). The business was involved in the sale of fuels and lubricants, as reported by gazeta.ru.

In the department’s post, it specified that the confiscated and seized fuel was being transferred to satisfy the needs of the Armed Forces of Ukraine (AFU). According to the Ministry, the company is registered in Russia. The Attorney General’s office is conducting a pre-trial investigation.

Earlier in the day, Irina Mudraya, the Deputy Head of Ukraine’s Ministry of Justice said that the department was going to file a lawsuit against ex-President Viktor Yanukovych to facilitate the confiscation of all his assets and property in the country.

The National Agency for Tracing and Management of Assets (ARMA) of Ukraine also reported that between September and October it doubled its deposit portfolio with seized funds, mainly Russian, to the amount of up to 1.4 billion hryvnias ($38 million). It was previously reported that assets of Russia and Belarus worth $1.2 billion had been seized in Ukraine.

Last month, legislation was passed in the country that allowed the government to seize the assets of top Ukrainian businessmen. As a result, the owners of five major enterprises had their commodities ‘nationalised’.

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