Rada allowed ARMA to buy military bonds for seized currency
Kyiv • UNN
The Verkhovna Rada allowed to the National Agency for the Management of Assets Derived from Corruption and Other Crimes (ARMA) to buy military bonds using up to 80% of seized foreign currency during martial law and within one month after its lifting.
The Verkhovna Rada has finally approved a bill that will allow the National Agency for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA) to buy military bonds for seized foreign currency placed on the Agency's accounts. This was reported by MP Yaroslav Zheleznyak, UNN reports.
Details
"The Rada authorized ARMA to manage foreign currency funds. They will be able to buy military bonds with the seized money in foreign currency," Zheleznyak said.
He noted that the relevant draft law was supported by 299 MPs.
Addendum
According to the draft law No. 10397, it is envisaged that the ARMA will be able to buy military bonds denominated in foreign currency using seized foreign currency funds - without loss of funds for the holders or the state, without fraudulent conversion.
The bonds can be purchased using no more than 80% of the total funds available in the accounts in US dollars. At the same time, no less than 20% of all funds remain on the accounts for operational management, for example, returning to the owner in case of cancellation of the arrest.
Such rules will be in effect during the martial law and for a month after its lifting.
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