Recovery of illegally withdrawn assets is about restoring justice: Yuliia Svyrydenko

On 27 December, the first constitutive meeting of the Interagency Working Group on Preparation of Proposals for the Implementation of the Asset Recovery Strategy (IWG) was held under the chairmanship of the First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine Yuliia Svyrydenko.

"Asset recovery is a strategic step that will help restore justice, replenish the state budget and strengthen Ukraine's economy. After all, the resources that were withdrawn abroad should return and work for the development of our country, for the benefit of citizens. The return of assets and their effective use is a step that will not only improve the economic situation, but also strengthen national security,’ said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

During the meeting, the IWG members discussed the implementation of the Action Plan for the Strategy's implementation approved by the Government in August 2024, in particular, the progress in developing and adopting the necessary legislative amendments. The plan envisages the preparation of dozens of legislative initiatives that will strengthen the tracing and management of seized assets in Ukraine and bring it closer to the best international standards. The IWG meeting also discussed the expansion of international cooperation, etc.

The Interagency Working Group also approved the proposals of a number of NGOs to involve representatives of the public in the work of the group. The representatives of the organisations that will cooperate with the IWG include Transparency International Ukraine, Institute of Legislative Ideas Independent Think Tank, Legal Partnership of Ukraine NGO.

Background information

The IWG for the Preparation of Proposals for the Implementation of the Asset Recovery Strategy included representatives of the ARMA, the Ministries of Justice, Internal Affairs, the Prosecutor General's Office, the NABU, the BES, the State Financial Monitoring Service, etc.

The Asset Recovery Strategy was adopted in order to:

• improve the legislative, institutional and operational efficiency of asset tracing, search, seizure and confiscation;
• introduce effective mechanisms for the return of assets to Ukraine, compensate for losses incurred by Ukraine as a result of criminal offences and armed aggression of the russian federation.

The document defines 5 strategic goals:

• Improvement of legislation in the field of asset recovery;
• Strengthening the institutional capacities of government agencies working on asset recovery;
• Strengthening interagency cooperation and data exchange;
• Strengthening international cooperation;
• Improving the representation and protection of Ukraine's rights and interests in national courts and foreign jurisdictional bodies.