Russia-Ukraine War: Zelenskyy Signs Law Allowing Seizure of Russian Property

The law was passed by the Ukrainian Parliament on 3 March.

Ukrainian President Volodymyr Zelensky signs the 'Law of Ukraine'.

(Photo: Twitter/Володимир Зеленський)

Ukranian President Volodymyr Zelensky on Thursday, 10 March, signed a law that would now allow 'seizure' of Russian property in Ukraine, reported The Kyiv Independent.

The 'Law of Ukraine', which was passed by the Ukrainian Parliament on 3 March, allows the Ukrainian government to confiscate property that belongs to the Russian federation.

The law defines legal basis for forcible seizure of the property rights (including military intervention) of the Russian Federation that has invaded Ukraine, declaring a full-fledged war against the country and its residents.

As per the law, forcible acquiring of rights on property of Russians in Ukraine will be implemented without any compensation or reimbursement of their value.

Zelensky signed the law "on the main principles for confiscation in Ukraine of objects of property rights of the Russian Federation and its residents’ that was adopted by the Verkhovnaya Rada," the legislature said in a statement, reported Russian news agency TASS.

"The law defines the legal basis for confiscation of objects of property rights based on social need," the statement read further.

Military necessity also can serve as a potential motive for confiscation of property rights. Accordingly, the confiscations won’t stipulate any kind of compensation.

Martial law was declared by Ukraine on 24 February when Russian President Vladimir Putin launched a "special operation" on Ukraine, effectively declaring war.

(With inputs from TASS and The Kyiv Independent.)