Ukraine will finally be able to sell Medvedchuk's arrested yacht: Cabinet changes rules for ARMA

The Asset Recovery and Management Agency (ARMA) will transfer all sales of seized property to the Prozorro.Sale platform without exception. In addition, it is now possible to sell such property abroad - one of the first "foreign" lots may be the yacht of Viktor Medvedchuk's family, which is estimated at 200 million euros. Ukraine will receive the proceeds from the sale of the vessel.

The Cabinet of Ministers of Ukraine made the decision at its meeting on November 14. The amendments were made to government resolutions No. 719 and No. 558, the ARMA said.

"The regulations open up the possibility of starting procedures for the sale of the 92-meter yacht Royal Romance, which belongs to the family of Viktor Medvedchuk (former MP accused of treason - Ed.)," the agency said in a statement. The vessel is currently in Croatia.

The yacht was court-ordered to be transferred to ARMA's management back in April 2022. However, the agency could not do anything with it because it had no mechanisms for managing property located outside Ukraine.

"We have now invented a model that will allow us to sell seized property outside of Ukraine. This is especially important, as such a mechanism will allow to receive funds from the sale of expensive seized property without moving it to Ukraine, which is impossible during the war," ARMA said.

As for the auctions in the Prozorro system, this step will help make the process transparent, said MP Yaroslav Zhelezniak (Voice). He recalled that earlier the Supreme Council's provisional investigative commission investigated the sale of seized property through a "manual platform."

"Where you needed to know the address, settings and access only from a special browser... After today, such schemes should become impossible," Zhelezniak said.

As reported by OBOZ.UA, in August, the ARMA opened access to the Unified State Register of Assets Seized in Criminal Cases for everyone. This means that Ukrainians can now find out what assets are at the disposal of law enforcement and the ARMA.

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