The Cabinet of Ministers of Ukraine has approved a presidential draft decree on the seizure of 903 objects belonging to Russia, Prime Minister of Ukraine Denys Shmyhal has said.

"As promised, we are taking Russian assets for the benefit of Ukraine and the Ukrainian people. We are doing this systematically and under all procedures. We do not replace the law with our willingness, but implement this strategic task in a legal way. The seized assets are converted into funds allocated for our defense and restoration," Shmyhal said at a government meeting on Friday.

According to the prime minister, the government has decided to seize Russian property and assets in Ukraine.

In particular, the Cabinet of Ministers approved a presidential decree proposing the seizure of 903 objects belonging to Russia.

According to him, some 79 items are corporate rights, while 824 items are property.

"The list of objects has been formed: these are hundreds of buildings, corporate rights, land plots and financial assets. All property is divided into three categories: the first category is property that belongs to Russia, the second category is assets belonging to sanctioned citizens and companies from Russia, the third category is the assets of Russian banks," he said.

The prime minister said today's decision is the first step, and then the seizure of Russia's assets in the West should take place.