Ukraine's assets recovery agency transfers over US$3.5 million to Fund for Elimination of Consequences of Armed Aggression

Ivan Diakonov - 26 August, 06:38

American dollars. Photo: Getty Images

Ukraine’s Asset Recovery and Management Agency (ARMA) has transferred US$3.57 million belonging to the sanctioned company Royal Pay Europe to the state budget. The funds will go towards Ukraine’s recovery from the consequences of Russian aggression.

Source: ARMA press service

Details: The agency reported that the total amount transferred is US$3,572,585.29. These funds will be directed to the Fund for the Elimination of the Consequences of Armed Aggression.

Quote: "These funds will be directed to the Fund for Elimination of the Consequences of Armed Aggression and will contribute to the country’s recovery: the building of housing for those who have lost it, the rebuilding of infrastructure, the development of medical facilities and the building of protective structures."

Background:

On 24 July, ARMA took control of around UAH 100 million (US$2.4 million) in cash seized in a case of embezzlement in the defence sector.
On 1 August, the agency announced that the administrator of the International Centre of Culture and Arts (October Palace) had made its first payment of UAH 1.4 million (US$33,000) to the state budget.
On 6 August, it became known that ARMA had begun the sale of 14,673 tonnes of Russian iron ore pellets stored in 215 rail wagons.

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