09:51 21.09.2015

Ukrainian Justice Ministry expecting office for return of illegally exported assets to help regain assets illegally removed from Ukraine

1 min read
Ukrainian Justice Ministry expecting office for return of illegally exported assets to help regain assets illegally removed from Ukraine

The Ukrainian Justice Ministry is expecting the soonest establishment of an office to search for, manage and return assets, which have been illegally removed from Ukraine.

Ukrainian First Deputy Justice Minister Natalia Sevostianova said at a press briefing in Kyiv on September 19 that it is important to "pass a law on the office to search for, manage and return assets illegally exported from the country."

"This model office was created by the example of France," Sevostianova said, adding the office would be small and employ financial specialists to search by use of computer for assets illegally exported from the country.

"Most importantly, we know that some other country has seized [former Ukrainian President Viktor] Yanukovych's billions. For some reason they are not being returned to Ukraine. That is because they do not see an entity that could manage these assets here until a court makes its judgment."

The office will be able to manage regained funds, for instance, deposit them in an account at a government owned bank and to transfer the interest to the national budget until a court order, she said.

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