The Verkhovna Rada of Ukraine passed a law on confiscation of Russian property

The Verkhovna Rada passed a law providing for the nationalization of Russian property in Ukraine.

The relevant bill №7122 was passed during a meeting on March 3, according to the press service of parliament.

The law defines the legal basis for the forcible withdrawal for reasons of public necessity (including cases where there is an urgent military need) of property rights of the Russian Federation, as a state that started a full-scale war against Ukraine and its residents, said in an explanatory note to the document.

According to the text of the draft law №7122, the decision to forcibly confiscate property rights of the Russian Federation and its residents in Ukraine is made by the National Security and Defense Council and enacted by a decree of the President of Ukraine.

It is expected that the adoption of the law will help improve the legislative regulation of relations in the field of protection of sovereignty and territorial integrity of Ukraine.

As previously reported, on February 24, Russian President Vladimir Putin announced the beginning of the invasion of Ukraine. Russian troops are shelling and destroying key infrastructure, and missiles are hitting homes.

Since February 24 martial law has been imposed in Ukraine and general mobilization has been announced.

Ukraine has officially filed a lawsuit against Russia in the UN International Court of Justice in The Hague.