Kiev to seize Ukrainian corporate assets if company doesn't back army

The Ukrainian government will continue seizing private company assets if they do not support the Ukrainian military forces, asserted German Galushschenko, the Ukrainian Energy Minister, who also said that these measures shall be temporary.

Ekonomichna Pravda, a Ukrainian newspaper, reported Monday that Kiev decided to nationalize a number of enterprises owned by Ukrainian oligarchs, including oil companies Ukrnafta and Ukrtatnafta, and engine maker Motor Sich, whose shares will become state property.

Ukrainian National Security and Defense Council head Oleksiy Danilov announced later on in the day that the nationalized assets received the status of military property and were transferred to the Ukrainian Defense Ministry. 

"We need to survive... that is the common task for everyone. If the state would see that someone is trying to play some games separately not to achieve this goal to protect against Russia, of course I am sure there would be some decisions," Galushchenko was quoted by the Financial Times as saying. 

Ukrainian authorities were closely monitoring private companies in the country, focusing on whether the private companies supported the army and economy in the war. 

Galushchenko noted that such seizure of assets is temporary and was not to be considered as nationalization.