The Verkhovna Rada adopted Law No. 7194 “On Amendments to Certain Legislative Acts to Improve the Effectiveness of Sanctions Related to the Assets of Individuals”. Law allows High Anti-Corruption Court to collect frozen assets of sanctioned individuals and legal entities.

In particular, this applies to those who:.

created a significant threat to the national security, sovereignty or territorial integrity of Ukraine;

contributed significantly to the above actions;

is a resident within the meaning of the Law “On the Basic Principles of Compulsory Withdrawal in Ukraine of Objects of Property Rights of the Russian Federation and Its Residents”.

True, the VAKS receives such a right only during martial law in the country..

Thus, according to the law, in the presence of the above signs, for the recovery of frozen assets, an application to the VAKS is submitted by the National Agency for the Prevention of Corruption. The judge of the Supreme Anti-Corruption Court considers the application alone within 10 days from the date of its receipt by the court.

When considering an application, the VAKS establishes the presence or absence of grounds and conditions for the recovery of assets. The decision of the court, as specified in the law, comes into force within 5 days from the date of production of the full text of the decision. During this time, the decision can be appealed both by the NAPC and the person to whom it refers.

Submission of an appeal stops the expiration of the term for the entry into force of a court decision. The appeal is also considered by the judge of the Appeals Chamber of the VAKS single-handedly within five days from the date of receipt by the court.

[see_also ids\u003d"

Recall that in March, President Volodymyr Zelensky signed a law defining the legal basis for the forced seizure of property of the Russian Federation, as a state that launched a full-scale war against Ukraine, and its residents.. Seizure of property includes cases in which it is required by military necessity.