Publication date: 24.05.2024
ARMA will be able to buy military bonds at the expense of seized funds in foreign currency: the law entered into force
On May 16, 2024, Law No. 3638-IX "On Amendments to Sub-Clause 2, Clause 22 of Chapter V "Final and Transitional Provisions" of the Law of Ukraine "On the National Agency of Ukraine for Identification, Search and Management of Assets Obtained from Corruption and Other Crimes" came into force on May 16, 2024. "on the management of funds in foreign currency".
New opportunities for ARMA
According to the document, the National Agency of Ukraine for the Identification, Search and Management of Assets Obtained from Corruption and Other Crimes (ARMA) now has the right to make decisions on the purchase of bonds of the internal state loan "Military Bonds" at the expense of funds placed in ARMA's accounts in national and foreign currency. The nominal value of these bonds is determined by the corresponding currency (national or foreign).
The volume of such purchases is agreed by the Cabinet of Ministers, but cannot exceed 80% of the funds recorded in all deposit accounts of the National Agency in the relevant currency. This means that a significant part of the seized currency funds will be able to be directed to support the country's defense capability. You may be interested in the following articles: lawyer's consultation, lawyer's consultation, document analysis, legal analysis of the situation, written consultation, document review by a lawyer, lawyers' documents, lawyer's help online , lawyer online, legal opinion, lawyer's legal opinion, lawyer online.Strengthening the defense capability of Ukraine
The head of the Assets Agency, Olena Duma, noted: "From now on, the National Agency will significantly expand its capabilities to fill the state budget - seized foreign currency funds of collaborators and traitors will work for Ukraine's defense capability." This is an important step in providing financial support for the Ukrainian armed forces in wartime conditions.
ARMA is the only central body of the executive power of Ukraine authorized to buy military bonds. Previously, this only applied to funds in national currency, but now, thanks to innovations, the Agency will be able to use currency funds as well.
Importance of law for economy and security
The new law has several important aspects:
Attracting additional funds to the state budget. Seized funds, which used to simply lie in accounts, can now work for the benefit of the state.
Defense capability support. The purchase of military bonds is aimed at financing the armed forces, which is critically important in wartime conditions.
Effectiveness of management of seized assets. ARMA receives new tools for managing seized funds, which increases the efficiency and transparency of its activities.
Conclusion
The implementation of Law No. 3638-IX is an important step in strengthening the economic and defense capacity of Ukraine. At the expense of seized currency funds of collaborators and traitors, it is now possible to finance military needs, which is extremely relevant in the conditions of the continuation of military operations.
The implementation of this law demonstrates the readiness of the Ukrainian authorities to use all available resources to protect national interests and ensure the country's security.
