Prozorro.Sale

The Cabinet of Ministers of Ukraine adopted Resolution No. 125 dated February 10, 2023, aimed at regulating the procedure for the sale of forcibly seized property and assets that were the property of the Russian Federation and its residents. According to it, implementation will take place through online auctions in the Prozorro Sale system. Proceeds will be sent to the Fund for the Liquidation of the Consequences of Armed Aggression of the Russian Federation to finance the restoration of the energy system and housing stock of Ukraine, demining, and other important processes of returning to a peaceful life.

More about auctions

According to Prime Minister Denys Shmyhal, there are currently hundreds of confiscated objects in Ukraine that belonged to Russian oligarchs and are currently idle. They will be sold according to a procedure similar to small privatization auctions, and both representatives of Ukrainian and foreign businesses will be able to become buyers.

It is planned that online auctions will be conducted both according to the "English" scheme (to increase the starting price) and according to the "Dutch" scheme (to decrease the starting price). Preparation of lots and conducting auctions on Prozorro.Sale will last up to 2 months. The State Property Fund of Ukraine will be responsible for them, and the winning bidder will sign the agreement with it to transfer of the object into ownership.