On May 12, the Verkhovna Rada of Ukraine adopted the law that allows the High Anti-Corruption Court to make a decision about the confiscation of assets from those who support the Russian aggression.
What does the Russian support means and in what cases the assets will be confiscated according to the law?
Confiscation applies to individuals and legal entities, regardless of their residence, if they have contributed to or harmed the national security, sovereignty or territorial integrity of Ukraine. In particular:
- adopted or lobbied for decisions on the armed aggression of the Russian Federation, the creation of self-proclaimed republics, the introduction of the jurisdiction of state bodies of the Russian Federation on the territory of Ukraine;
- financed the aggression of the Russian Federation, including: supplied weapons, provided property and charitable assistance, paid taxes (UAH 40 million for legal entities and UAH 3 million for individuals);
- supported Russian aggression publicly or in the media.
Confiscation procedure consists of 3 stages:
- The National Security and Defense Council imposes a “blocking of assets” sanction.
- The authorized body shall file a claim with the High Anti-Corruption Court.
- Special trial procedure: the High Anti-Corruption Court makes a decision, which can be reviewed by the Appeals Chamber of the HACS.
The law shall be signed by the President.