The State Property Fund and the Ministry of Economy have developed a methodology for determining the enterprises’ losses from russian federation aggression

The State Property Fund of Ukraine together with the Ministry of Economy of Ukraine have completed the development of a methodology for determining the losses caused by the armed aggression of the russian federation.

The developed methodology belongs to the object assessment, which will allow to determine the damage and amount of losses caused to enterprises, institutions and organizations of all forms of ownership as a result of destruction and damage to their property in connection with the conduct of hostilities. The methodology will also allow to determine the losses from lost profits due to the impossibility or obstacles in the conduct of economic activity by enterprises that have suffered real losses.

In addition, the document proposes methodological principles for determining the amount of expenses necessary for the restoration of property and property rights of the affected entities.

Assessment of losses will be carried out by independent appraisers and forensic experts on the basis of enterprises’ documents on the characteristics of damaged property, its market value data. Direct damage will be analyzed based on the results of the inspection of the affected object or photo and video materials, satellite images.

"The methodology is designed to provide two goals: to create a mechanism for determining the exact amount of damages and to regulate the collection of evidential base for their compensation. The developed algorithm will allow us to use the obtained data in criminal proceedings in Ukraine, as well as in international courts, for full compensation from the aggressor," – Olha Batova, Acting Head of the State Property Fund of Ukraine, stated.

The draft methodology was published for discussion on the website of the Ministry of Economy of Ukraine. You can get acquainted with the text at the link – https://bit.ly/3Q8buzo

You can submit clarifications or comments to the document in the form of electronic appeals – https://bit.ly/3SLUWiz