The Verkhovna Rada allowed the process of seizing the property and funds of the Russian Federation and its residents located on the territory of Ukraine to begin, the press service of the Servant of the People party has reported.

"As Maria Mezentseva said, the forced seizure of property and funds of the Russian Federation and its residents in Ukraine is carried out without any compensation for their value, given the full-scale aggressive war that Russia has unleashed and is waging against Ukraine and the Ukrainian people," the press service said on its Telegram channel.

The bill defines the principles for the forced seizure in Ukraine of objects of property rights of the Russian Federation and its residents, the grounds and procedure for the forced seizure of objects of property rights, as well as the legal regime of objects forcibly seized in Ukraine.

The decision to forcibly seize objects of the property rights of the Russian Federation and its residents in Ukraine is taken by the National Security and Defense Council of Ukraine and put into effect by a decree of the President of Ukraine.