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Ukraine's parliament passes state asset agency reform crucial for EU funding

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Ukraine's parliament passes state asset agency reform crucial for EU funding
A sitting of the Verkhovna Rada, Ukraine's parliament, livestreamed from the session hall in the media room in Kyiv, Ukraine on June 5, 2024. (Eugen Kotenko / Ukrinform/Future Publishing via Getty Images)

Ukraine's parliament passed a reform of the Asset Recovery and Management Agency (ARMA) on June 18, a key step toward European integration and a condition listed in the EU's Ukraine Facility plan.

The legislation passed with the support of 253 lawmakers "after months of obstructions... unblocking 600 million euros ($690 million) in EU funds," lawmaker Yaroslav Zhelezniak said.

The ARMA is Ukraine's national agency tasked with locating, recovering, and managing assets seized in criminal proceedings, namely during corruption cases.

Proposed reforms include stricter integrity and qualification standards for leadership candidates and merit-based hiring through open competitions involving civil society. They also call for independent external audits, clear deadlines for appointing asset managers, and the use of certified professionals held legally accountable for mismanagement.

The Ukraine Facility, an EU program providing Ukraine with 50 billion euros ($58 billion) in multi-year financial support contingent on reforms, set the end of March as the deadline for the ARMA's reform.

Anti-corruption experts, lawmakers, and Transparency International in Ukraine have backed the reforms, but discussions have dragged on for months since several versions of the bill were introduced in December 2024 and January.

The ARMA has long criticized the proposed legislation, arguing it had already carried out substantial and "transformative" reforms since 2023.

Transparency International reacted by saying that the ARMA's "public communication suggests that the agency’s primary concern is not the introduction of meaningful reforms, but ensuring that its current leadership can continue operating as it has."

Ukraine has embarked on extensive reforms as part of its efforts to join the EU and other Western structures, though Russia's full-scale invasion has presented fresh challenges to this effort.

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Martin Fornusek

Senior News Editor

Martin Fornusek is a news editor at the Kyiv Independent. He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He was also volunteering as an editor and translator at the Czech-language version of Ukraïner. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.

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