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Sanctioned property will be sold at online auctions in Prozorro.Sales — the Government resolution

22.12.2023 | 16:02 | Section for Public and Mass Media Relations

At the end of November 2023, the Cabinet of Ministers of Ukraine approved the  Sanctioned Property Management Procedure. From now on, such assets will be sold through online auctions in Prozorro.Sales, the state electronic trading system.

This decision was adopted by the Government to implement the Law of Ukraine 3137-IX, effective from June of this year, which amends the sanctions legislation. The Law and the Procedure determine the procedures for the sale of confiscated sanctioned property — assets that belonged to residents of states carrying out armed aggression against Ukraine.

“The Government consistently implements best practices in the management of state assets through their sale at transparent and competitive electronic auctions. In order to launch sales of sanctioned property, the Ministry of Economy has developed and the Cabinet of Ministers has adopted the relevant Procedure. This creates a comprehensive legal framework for the management of various types of assets related to the aggressor country, as well as increases the confidence of potential investors in the public property management system and promotes the attraction of long-term investments. And this is our priority for the coming years,” Oleksii Sobolev, Deputy Minister of Economy of Ukraine, emphasized.

The State Property Fund (SPFU) will be the organizer of electronic auctions for the sale of sanctioned property in Prozorro.Sales. And the money from its sale and rent will go to the accounts of the Fund for the Elimination of the Consequences of Armed Aggression.

“The Procedure developed by the Ministry of Economy and adopted by the Government is another legislative step to ensure that all assets related to the aggressor country are implemented exclusively in a transparent and open manner. As of today, the Cabinet of Ministers has already made decisions regarding the sale of seized assets managed by ARMA, as well as confiscated russian assets in Prozorro.Sales. The SPFU sells state property at online auctions in the Prozorro system. Sales have been going on for over five and a half years, and during this time almost 12 billion hryvnias have come to the state budget. Sale of sanctioned property through Prozorro.Sales will allow it to be managed in the same transparent and competitive manner for the benefit of the state,” Serhii But, CEO of Prozorro.Sales, noted.

Bidders of auctions for the sale of sanctioned property will be able to participate in them by registering through one of the websites accredited in the Prozorro.Sales system, an up-to-date list of which is always available via the link. All information about online auctions for the sale of sanctioned assets will be available on the official website of Prozorro.Sale.

The function of the state electronic trading system Prozorro.Sales is to ensure the impossibility of interference by anyone in the course of bidding, equal access of everyone to the auction, as well as the ability for anyone to monitor online auctions in real time.

We remind that Prozorro.Sales is a joint-stock company that is 100% state-owned and subordinate to the Ministry of Economy. JSC Prozorro.Sales ensures the operation of an electronic trading system in which online auctions for the sale of public assets take place. For more than seven years of operation, online auctions at Prozorro.Sales helped to attract more than 80 billion hryvnias to the budgets of various levels.

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