The State Property Fund (SPF) of Ukraine sold the seized apartments of Russian oligarch Mikhail Shelkov and collaborator Vladimir Saldo at online auctions in the electronic system ProZorro.Sale for a total of UAH 6.9 million.

"The auction for the sale of the property of one of the Russian oligarchs and collaborators took place for the first time in the ProZorro.Sale system, which allows for the transparent and open sale of all assets associated with the aggressor country," CEO of ProZorro.Sale Serhiy But said.

He said these were repeated auctions for the sale of apartments, at which the cost of the objects was halved.

"Despite this, a total of 11 participants came to compete for the sanctioned property. The competition of participants in the auction allowed us to increase the starting price, and after the conclusion of transactions based on the results of online auctions, more than UAH 6.9 million will go to the Fund for Elimination of the Consequences of Armed Aggression," the CEO of ProZorro.Sale said.

Starting price of Shelkov's apartment with an area of 175.5 square meters in Prymorsky district of Odesa amounted to UAH 3.8 million, and Size LTD LLC won the auction with an offer of UAH 4 million.

According to Opendatabot, the owner and beneficiary of Size LTD (Odesa) is the owner of the Ukrainian automobile group Autocraft, Hryhoriy Hrynshpun.

Sale of apartment Saldo with an area of 130 square meters near the Arkadia beach in Odesa started at a price of UAH 1.9 million. The highest offer of UAH 2.9 million was made by Radion Tymoshenko.

Auction winners must pay the cost of the lots within 20 days; sales contracts are signed only after funds have been received into the accounts of the Fund for Elimination of the Consequences of Armed Aggression, the fund said.

According to SPF Head Vitaliy Koval, the fund is working on another 753 units of sanctioned property.