Ukraine to auction off confiscated Russian assets - PM

MOSCOW. Feb 10 (Interfax) - The Ukrainian government has approved the order of selling confiscated Russian assets and property, Ukrainian media reported citing Ukrainian Prime Minister Denis Shmygal.

"The government will launch open and transparent auctions to sell confiscated Russian property. Today, we approved a resolution regulating their sale," Shmygal said on Telegram.

Many of those assets are currently on standby, he said. They will be sold at auctions "where Ukrainian and foreign businesses can acquire their ownership," he said.

The sales will be regaled by the same principle as small privatization. Ukraine's State Property Fund will be in charge of them.