The Ukrainian Parliament simplified the forced alienation of property under martial law

Author:
Sofiia Telishevska
Date:

The Verkhovna Rada supported the simplification of the procedure for forced alienation and confiscation of property under martial law. The corresponding draft law (No. 7605) was supported by a total of 278 lawmakers.

Deputy Chairman of the Committee on Finance, Tax and Customs Policy Yaroslav Zheleznyak reported about this.

This law, in particular, will allow speeding up the period of transition of the economy to military rails, especially heavy industry and machine-building industry.

"During the shortage of heavy weapons and ammunition, along with obtaining the necessary from our allies, it will allow us to establish our own mechanism for providing our Armed Forces with the necessary weapons and ammunition," the explanatory note specifies.

The amendments to the law establish that forced alienation or removal of equipment used for the purposes of the defense-industrial complex and there is a risk of interruption of its functioning takes place on the basis of a decision of the National Security and Defense Council.

The right of state ownership of such equipment arises from the day when the specified decision of the NSDC enters into force, and also gives the National Agency for Identification, Search and Management of Assets Obtained from Corruption and Other Crimes with the authority to manage assets.

  • On May 11, Volodymyr Zelenskyi submitted to the Verkhovna Rada draft law No. 7371 "On the forced seizure of property rights of the Russian Federation and its residents in Ukraine."