Ukraine's budget receives first money to nationalise Russian assets

This is according to a letter from the State Treasury Service published by Trap Aggressor, an analytical group that monitors the effectiveness of sanctions.

The money that was received were balances in the accounts of the International Reserve Bank and Prominvestbank, Ukrainian subsidiaries of Sberbank and VEB.RF. These banks were nationalised by a decision of the NSDC of 11 May 2022.

The total amount of funds amounted to UAH 3bn.

The receipt of funds in the special fund of the state budget under code 21085000 "Funds Received in Connection with the Execution of the Law of Ukraine "On the Basic Principles of the Compulsory Seizure of Russian Property Rights in Ukraine and its Residents" amounts to 3 169 094 303,31 hryvnia.

Another tranche of funds held in seized Russian bank accounts in foreign currencies is expected soon.

Later, all the money will be credited to the Fund for Liquidation of Consequences of Armed Aggression.