Confiscated Assets of Another 9 Sanctioned Persons and Companies Transferred to SPFU

Information on these assets is reflected on the website of the State Property Fund. This concerns the assets of Russian oligarchs Oleg Deripaska and Yevgeny Giner, Senator Sergei Kalashnikov, propagandist Artemy Lebedev, collaborator Kateryna Martyanova, the Ministry of Defense of the Republic of Belarus, and others.

Earlier, we drew attention to the fact that these assets were “stuck” after confiscation by the court, and for a long time (up to 9 months, as in the case of Giner’s PINbank shares), the authorities could not determine a manager for them. 

In total, the SPFU received more than 500 objects for management: corporate rights in 23 companies, 57 residential and non-residential real estate objects, 252 vehicles, 1 land plot, cash, and more than 170 aviation parts.

Now, according to the information on the site, the assets are at the stage of ownership registration. After that, the State Property Fund should conduct an analysis and adopt a decision on their further management or sale; this is provided for by the procedure recently approved by the government. 

However, while analyzing this document, we noted a number of risks, in particular the lack of clear criteria for making decisions on the preservation or sale of assets, as well as the imperfect nature of their accounting and management monitoring. In addition, the problem with the Law of Ukraine on Sanctions, the provisions of which make it impossible to sell sanctioned assets, remains unresolved for more than six months.

This publication was prepared by Transparency International Ukraine with the financial support of Sweden.