Zelensky signs bill confiscating assets of those who support Russia's aggression

The Ukrainian President Volodymyr Zelensky signed the corresponding bill. 

The law, which Parliament has adopted on May 12, entitled 'On Amendments to Some Laws of Ukraine to improve the effectiveness of sanctions related to the assets of individuals.'

It establishes a new kind of sanctions as a penalty to the state income assets owned by a natural or legal person, as well as assets which it can directly or indirectly manage.

The clear criteria will determine whether a person is subject to sanctions.

"Procedure for identification and confiscation of sanctioned persons' assets, who in one way or another support the Russian aggression against Ukraine, to quickly and effectively replenish the Ukrainian budget. The law provides clear guidance for authorities responsible for this process. I look forward to the productive cooperation of all participants," says Zelensky.

The Ukrainian Ministry of Justice is to appoint the responsible for the assets' search and going to court. The executive body is to organize the work of identifying and tracing assets to be frozen.

The Anti-Corruption Supreme Court is to carry out the implementation of administrative proceedings for the sanctions' application in the form of recovery of assets in state revenue.