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Ukraine to nationalize all Russian properties

Ucrania, propiedades, rusas, nacionalización

Ukraine to nationalize all Russian properties

Kiev, Apr 8 (Prensa Latina) Ukrainan Prime Minister Denis Shmygal on Friday announced the nationalization of all Russian properties in the country, a process that, he said, has already begun.

“There is a number of companies in Ukraine that belong to the Russian State. Of course, the law on nationalization has already been approved,” said Shmygal, who explained that the measure will serve “to offset the cost of part of the losses that Russia is causing us.”

The head of government told the Ukraine 24 TV network that the process would be carried out under a new law approved by the Verkhovna Rada (Parliament), and not under the country’s Constitution.

“The mechanisms are prescribed by law. I believe that we will act in accordance with the new law and nationalize these properties under conditions of war,” Shmygal stressed.

Article 41 of the Ukrainian Constitution establishes that the compulsory expropriation of objects of private property law can only be applied as an exception for reasons of public necessity and on condition of prior and full compensation of their value.

The measure can theoretically only be applied under conditions of martial law or a state of emergency, by virtue of a court order.

However, Kiev passed a law under which Russia’s assets will be confiscated without compensation, without the need for a court ruling and will only require the decision of the Security Council to start its implementation, TASS news agency reported.


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