Cabinet of Ministers of Ukraine approves sale of Royal Romance yacht to ARMA in Croatia

On February 16, the Cabinet of Ministers of Ukraine approved the sale of the 92-meter yacht Royal Romance, owned by Viktor Medvedchuk's family and located in Croatia, to ARMA.

Earlier, at the initiative of the ARMA, the Cabinet of Ministers of Ukraine improved the procedure for the sale of seized assets and introduced the possibility of selling them abroad. The relevant changes were approved on November 14, 2023.

These are historic changes that have improved the provisions of Government Resolutions No. 719 and 558, aimed at creating equal and clear, transparent conditions for the participation of organizations from around the world (non-resident legal entities) in the selection of sellers, which have the necessary experience in organizing competitive bidding at the international level in accordance with the best international practices and principles of auctions. The Procedure will allow the sale of high-value assets located abroad at the most favorable price. 

For the first time in the history of Ukraine, the amendments regulate the sale of seized property abroad through the electronic platform Prozorro.Sale.

As a reminder, in January 2024, the District Court of Split (Croatia) decided to transfer the Royal Romance vessel to Ukraine on the basis of a request for international legal assistance.

The ARMA is convinced that the proceeds from the sale of the yacht will significantly strengthen the state budget and defense capabilities of our country, and that the traitors will be held legally and economically accountable.

Source: ARMA