Zelensky signs law expropriating Russian assets in Ukraine

KYIV. March 10 (Interfax-Ukraine) - Ukraine's President Volodymyr Zelensky has signed a law on the confiscation of assets owned by the Russian state and Russian residents in Ukraine.

The relevant bill passed parliament on March 3, the Verkhovna Rada website stated.

"Forcible seizure in Ukraine of assets owned by Russia and its residents is effected at no compensation (reimbursement) of their cost... The decision on forcible seizure in Ukraine of assets owned by Russia and its residents is made by the National Security and Defense Council of Ukraine and enacted by decree of the president of Ukraine," the statement said.

The law sets out the principles, reasons and procedure for the confiscation and the legal regime for the confiscated assets in Ukraine.