Ukrainian MP announces confiscation of Kyiv Ocean Plaza mall’s shares from Russian owners

28 February, 12:34 PM
Arahamiya stated that the issue of Russian assets in Ukraine is

Arahamiya stated that the issue of Russian assets in Ukraine is "politicized" (Photo:Oleksandr Prykhodko/Alamy via Reuters)

Ukraine will confiscate shares in the Ocean Plaza shopping mall in Kyiv from their Russian owners, the head of the Servant of the People faction, David Arakhamia, said in Telegram messenger post on Feb. 27.

During a recent press conference on attracting investment to Ukraine amid the full-scale war, Arakhamia said the issue of Russian assets in Ukraine was “politicized” and cited last year’s seizure of 70% of the Ocean Plaza shopping mall.

“Both shares were seized, the whole store was closed: operating costs amounted to $1 million per quarter, and $700,000 from the state,” he said.

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“I personally asked to reopen (the mall): the state will take 70% of the rental income, and this is how the mall will operate until we carry out a complete confiscation and put it up for sale.”

According to Arakhamia, such a proposal caused “resistance in terms of bureaucracy.”

“Everyone is afraid to come to within even 10 meters of Russian assets since there will be accusations of lobbying, some kind of deals, so people don’t want to deal with such things,” the MP said.

“Writing a post on Facebook is cool, but consequences will follow. We must now work with these implications on each case.”

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