The Government of Ukraine is seeking international assistance in recovering these proceeds of corruption which are likely to be located outside the country.
Challenges to international cooperation in the recovery of stolen assets are expected to be similar in Ukraine as in many jurisdictions, and overcoming them requires international cooperation along with the sharing of information, resources and expertise.
The recovery of stolen assets is a fundamental principle of the UN Convention against Corruption which calls on all state parties to, ‘afford one another the widest measure of cooperation and assistance’, for the return of such assets to their legitimate owners.
Several countries and regional organizations (such as the European Union) have already taken action to ensure the administrative freezing of assets held by specific individuals. While these moves are critical to prevent the further dissipation of such resources, they are only temporary steps, and must be complemented by criminal justice actions to secure the confiscation and return of illicit assets to their rightful owners.
Criminal legal proceedings by the Government of Ukraine in cooperation with financial centers are very important in tracking down and recovering stolen assets, as well as in bringing to justice those responsible for the thefts. Domestic coordination and technical expertise along with international cooperation are vital aspects of such actions.
The Stolen Asset Recovery Initiative - StAR - believes that recovering stolen assets is important in countering the effects of corruption, tackling impunity and restoring justice.
This website highlights some of the actions already taken by Ukraine and other countries to recover stolen assets. It provides guidance on ways in which asset recovery can be successfully advanced by the international community.
It also highlights resources important in undertaking this process including StAR publications such as, ‘The Asset Recovery Handbook’ and ‘Barriers to Asset Recovery’.
The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank Group and the United Nations Office on Drugs and Crime (UNODC) that supports international efforts to end safe havens for corrupt funds.
Asset Recovery for Ukraine
The Ukraine Forum on Asset Recovery (UFAR) is an initiative in support of the Government of Ukraine’s efforts to recover stolen assets.
The Forum is being hosted in London by the United Kingdom and the United States, in agreement with Ukraine, from 29 – 30th April 2014. It brings together a range of international partners from over thirty countries and territories around the world, as well several international organizations.
The Objectives of UFAR:
reaffirm political commitment in tracing and recovering stolen assets;
facilitate international cooperation for the early tracing and freezing of such assets;
enable the sharing of best practices, lessons learned, and available tools, particularly for the benefit of Ukrainian practitioners;
address the challenges of tracing stolen assets hidden behind complex corporate structures;
promote direct contacts, networking and trust-building, among practitioners across jurisdictions;
Identify specific capacity building needs.
Senior government officials including Ministers, policy makers, judicial experts, prosecutors, investigators, financial intelligence analysts, and regulators are participating in UFAR.
The Stolen Asset Recovery Initiative (StAR) is providing technical support and expertise to UFAR and its attendees.
Asset Recovery for UkraineExpand All
- Asset Recovery Actions for Ukraine
February 21st 2014 - Viktor Yanukovich deposed as President of Ukraine
February 26th 2014 - The Swiss Federal Authorities freeze the assets of Viktor Yanukovych and nineteen others.- French
The Swiss Federal Authorities freeze the assets of Viktor Yanukovych and nineteen others.- English
February 28th 2014 - Austria’s National Bank freezes the assets of Viktor Yanukovych and seventeen associates.
February 28th 2014 -The Principality of Liechtenstein freezes the assets of Viktor Yanukovych and nineteen others.
March 5th 2014 - Canada freezes the assets of Viktor Yanukovych and seventeen others.
March 6th 2014 - President Obama signs an Executive Order ‘blocking the property of certain persons’ deemed responsible for the misappropriation of Ukrainian State Assets.
March 6th 2014 - The European Union freezes the assets of Viktor Yanukovych and seventeen other associates
June 27th 2014 - Liechtenstein freezes assets of former Ukrainian politicians and begins criminal proceedings for money-laundering
- Ukraine Resources
This Library of Resources is a compilation of documents relating to asset recovery good practices, tools and measures, also relevant for Ukraine. It serves to provide information and expertise on asset recovery, and also links to other general resources on the implementation and review of measures undertaken.
Asset Recovery Tools and Procedures - US Guide (Ukrainian) (PDF | 621.90 KB)
Obtaining Assistance from the UK in Asset Recovery (Ukrainian) (PDF | 403.67 KB)
CSO User Guide Ukraine - English (PDF | 262.74 KB)
CSO User Guide Ukraine - Ukrainian (PDF | 348.17 KB)
Asset Recovery under German Law - Ukrainian (PDF | 261.52 KB)
Questions & Answers on the frozen Assets of Ukrainian Politically Exposes Persons (PDF | 155.92 KB)
International Cooperation Handbook - British Virgin Islands (PDF | 253.18 KB)
Mutual Legal Assistance requests checklist - English (PDF | 36.19 KB)
Mutual Legal Assistance requests checklist - Ukrainian (PDF | 79.39 KB)
Mutual Legal Assistance requests checklist - German (PDF | 34.23 KB)
Mutual Legal Assistance requests checklist - French (PDF | 34.55 KB)
Mutual Legal Assistance requests checklist - Italian (PDF | 35.00 KB)
Mutual Legal Assistance requests checklist - Arabic (PDF | 301.51 KB)
Mutual Legal Assistance requests checklist - Spanish (PDF | 35.77 KB)