Parliament proposes to use seized foreign currency to buy military bonds
The Verkhovna Rada has registered draft law No. 10397, which will allow the ARMA to purchase military bonds for seized foreign currency. This was reported by Anastasia Radina, MP from the Servant of the People faction, chair of the Verkhovna Rada Committee on Anti-Corruption Policy.
"We introduced the mechanism of purchasing military bonds for seized funds in the national currency back in 2022 and it works. So, it's time to extend the mechanism to foreign currency funds," Radina explained.
According to her, ARMA currently manages seized foreign currency funds worth about $20 million.
"These funds can and should be used for military needs. The tool for this is foreign currency military bonds. The state will be able to use the funds, and the owner will be able to safely return them in case of a court decision. For this purpose, together with colleagues from the Committee on Anti-Corruption Policy and on the initiative of the ARMA, we have developed draft law No. 10397," said the head of the Anti-Corruption Committee.
The draft law stipulates that ARMA will be able to buy military bonds denominated in foreign currency at the expense of seized foreign currency funds - without loss of funds for the holders or the state, without fraudulent conversion.
"The Committee proposes to adopt this draft law as a basis and as a whole at the next parliamentary session. I will ask my colleagues to support it," Radina summarized.
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