Ukraine facing setbacks trying to sell seized yacht of pro-Russian oligarch
Source: Yaroslav Zheleznyak/Telegram
Ukraine is facing legal difficulties trying to confiscate the superyacht of Ukraine’s fomer MP and close Putin’s ally Viktor Medvedchuk said Ukrainian MP Yaroslav Zheleznyak on Tuesday.
Docked in Croatia, Medvedchuk’s yacht is out of reach of Ukrainian law-enforement as Ukraine has no legal framework to extend its authority beyond the country’s borders.
“The sanctions and asset freezes apply exclusively within Ukraine,” Zheleznyak stated. “For Croatia, without additional procedures and a ruling from Croatian courts, these decisions hold no more legal weight than press releases.”
Zheleznyak noted that Medvedchuk’s legal team has leveraged this situation. They filed a complaint with the court in Split, Croatia, arguing the seizure of the yacht ordered by Ukraine’s Asset Recovery and Management Agency (ARMA) has no legal grounds. As Ukraine’ General Prosecutor’ Office failed to fail a case in Croatia, the local court ruled the yacht arrest should be lifted.
It is worth noting that Ukraine’s Prosecutor’s Office has investigated this case for two years, but an indictment is still pending. With the case stalling, Ukraine will not be able to sell Medvedchuk’s yacht, said Zheleznyak.
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