Ukraine Seeks Hundreds of Millions Through Privatization

The Ukrainian government aims to raise around 13 billion hryvnia (€252m) this year through the privatization of state assets.

Prime Minister Yulia Svyrydenko said the cabinet expects to generate nearly 10 billion hryvnia (€194m) from large privatization projects and a further 3 billion hryvnia (€58m) from smaller sales. She described the target as ambitious given the ongoing war.

The proceeds are intended to support the state budget and help finance reconstruction efforts.

Among the assets up for sale is the Ocean Plaza shopping mall, previously owned by a Russian oligarch and later seized by the Ukrainian government. The property is expected to be auctioned in the third quarter, with an estimated value of around $100m (€86m).

Kyiv is also continuing to pursue sanctions against Russia, alongside legal efforts to seize assets belonging to the Russian state and Kremlin-linked businessmen.

Since the start of the year, Ukraine has already raised more than 1 billion hryvnia (€19m) from the sale of smaller assets.

(reuters, bak)