Money from the nationalisation of Russian assets will still go to the army: Zelenskyy signs law

On March 17, President of Ukraine Volodymyr Zelenskyy signed a bill to increase state budget expenditures by UAH 5.5 billion. The law also allows for the exceptional use of funds from the Fund for the Elimination of the Consequences of Armed Aggression for defence purposes. This fund is replenished through the sale of nationalised assets of the Russian Federation.

Draft law No. 8399 was passed in the second reading by the Verkhovna Rada on February 24 (272 MPs voted in favour). Yaroslav Zheleznyak, Deputy Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, announced that the document had been signed by the President.

"I think you remember my struggle from last year regarding the possibility of using money from the Fund for the Elimination of the Consequences of Aggression for military needs. For your understanding, we are talking about UAH 52.5 billion. And finally, today, when No. 8399 - amendments to the 2023 budget - was adopted, my amendment was taken into account, which allows the fund to be used to meet the needs of the defence sector," Zheleznyak explained earlier.

The draft law provides for the possibility of compensation for owners of ships and vessels sailing in inland waters if they are damaged or destroyed by the terrorist country Russia. The total amount of compensation is up to UAH 20 billion in 2023.

Roksolana Pidlasa, MP and Chair of the Rada's Budget Committee, also commented on the adoption of the draft law on Facebook. "They have made a set-off for the Pension Fund (UAH 1.8 billion). They return the money allocated to the Social Insurance Fund (now merged with the Pension Fund of Ukraine) on a repayable basis, and we immediately distribute it to pensions. This will unlock these funds for pension payments," the statement said.

Earlier, members of the Verkhovna Rada decided that the funds from the Fund for the Elimination of the Consequences of Armed Aggression should not be used for the army. They were to be allocated for the construction and reconstruction of civilian and infrastructure facilities, as well as for the purchase of transport.

This decision caused a wave of criticism. The fact is that social expenditures of the Ukrainian budget can be covered by foreign partners. The country can only finance the needs of the military at its own expense.

OBOZREVATEL reported that Ukrainians were not allowed to clear cars in Diya. Both bills did not receive the required number of votes in the Verkhovna Rada.

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