The Cabinet of Ministers has approved the procedure for selling confiscated Russian assets and property, Prime Minister Denys Shmyhal has said.
"We already have UAH 17 billion confiscated from Russian banks. And today, we are making another decision toward recovery. It's a resolution on how the sale of confiscated Russian assets and property will take place. We have frozen and confiscated hundreds of objects belonging to the Russian government or Russian oligarchs in Ukraine. Many of these facilities are now idle," Shmyhal said at a government meeting.
The prime minister said the government would launch an open and absolutely transparent sale of this property.
"This means open auctions where Ukrainian or foreign businesses can purchase confiscated facilities. All funds from this sale will be used to rebuild Ukraine, our energy system, people's housing, demining, and many other things that bring back hope for a better future," he added.
In addition, Shmyhal said that sales auctions would take place on the same principle as small-scale privatization, and the State Property Fund would be responsible for them.