Ukrainian parliament approves nationalization of property of Russian citizens

Ukrainian parliament approves nationalization of property of Russian citizens

The Verkhovna Rada has approved a law providing for the nationalization of the property of Russian citizens, as well as Ukrainian citizens who publicly deny the war.

A total of 305 MPs voted for the adoption of Bill No. 7169 "On the Introduction of Amendments to the Law of Ukraine 'On Basic Principles of Compulsory Seizure in Ukraine of Property of the Russian Federation and Its Residents' Regarding the Clarification of Certain Provisions," Ukrinform reports, with reference to Holos MP Yaroslav Zhelezniak.

The document clarifies that residents of Russia (except for legal entities) are also citizens of Russia, as well as persons who are not citizens but have the closest connection with Russia: those who reside or are engaged in major activities there.

In addition, according to the decision of the National Security and Defense Council of Ukraine or the courts, residents of Russia may be equated with individuals or legal entities (regardless of citizenship, place of residence, location, engagement in major activities, etc.) that publicly deny or support Russia's armed aggression against Ukraine, the establishment and approval of temporary occupation of part of Ukrainian territory.

This clause will also apply to persons who have not stopped their economic activity on the territory of Russia during the period of martial law in Ukraine.

These persons will also be subject to the forcible seizure of their assets in Ukraine.

The Verkhovna Rada on March 3 passed a law providing for the nationalization of Russian property in Ukraine. The Bureau of Economic Security has already initiated the nationalization of Russia's property worth UAH 35 million.

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