Ukraine and Poland have agreed on practical mechanisms for enforcing court decisions in both countries to facilitate the return of unlawfully withdrawn and seized funds to Ukraine.
This was announced by Olena Duma, Head of the Asset Recovery and Management Agency (ARMA), on Telegram, as reported by Ukrinform.
“I held a meeting with the leadership of the National Prosecutor’s Office of the Republic of Poland. As a result, we agreed on a roadmap for returning unlawfully withdrawn and seized funds to Ukraine. The first practical case involves the return of over $5 million,” the statement reads.
According to Duma, the funds will be returned through two avenues: as material evidence or within the framework of international legal assistance. Despite attempts by interested parties to create obstacles, both countries possess sufficient legal tools to successfully complete the process.
Work with the Office of the Prosecutor General of Ukraine will also be intensified to ensure international legal cooperation on this matter.
“This will be a significant precedent. Poland will become the first country to practically implement the mechanism for returning seized funds from foreign accounts. It will demonstrate to the world that such mechanisms are indeed effective,” Duma added.
As previously reported, over $100 billion has been siphoned out of Ukraine to foreign accounts over the years of independence. In July 2023, ARMA developed and approved a procedure for implementing the sale of seized assets abroad to recover these funds.
Source: Ukraine, Poland agree on procedure for returning seized funds
