Ukraine's Asset Recovery and Management Agency (ARMA) has begun preparations for the sale of a yacht owned by disgraced former politician currently living in exile in Russia.
Currently, following international cooperation, ARMA has moved to the stage of practical preparation for the sale of the yacht Royal Romance. The vessel is linked to former People's Deputy of Ukraine Viktor Medvedchuk, who is accused of treason.
Sanctions were imposed against Medvedchuk by the National Security and Defence Council of Ukraine in 2021. The sanctions also encompass asset blocking and seizure of property.
The yacht, which is under the jurisdiction of the Republic of Croatia, has been transferred to ARMA for management with the purpose of its further sale on the basis of a ruling by an investigating judge.
ARMA said an important procedural stage was the completion of the pre-trial investigation. The Office of the Prosecutor General of Ukraine has submitted the indictment to the court, and the proceedings have moved to the trial stage.
The relevant materials have been transferred to Croatian counterparts within the framework of international legal assistance.
At the same time, preparations are ongoing for the valuation of the asset, determination of the sales model, and ensuring a transparent sales procedure through public mechanisms.
ARMA said that this case is accompanied by increased procedural resistance from the party associated with Medvedchuk. In particular, this includes attempts to delay procedures and the use of all possible legal instruments to block the progress of the case.
ARMA emphasised that such resistance is an expected element of such processes, and the relevant risks have been communicated to the competent authorities for appropriate response.