The Asset Recovery and Management Agency (ARMA) was created to effectively manage seized property, but has recently become the target of criticism precisely because of its inefficiency. Scandals over delays in the search for appraisers and asset managers, in particular of Russian-Belarusian railroad cars, show that the agency begins to act only under pressure from public attention, UNN writes.
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ARMA has repeatedly found itself at the epicenter of scandals due to its inefficiency. One of the most recent ones, which caused a public outcry, concerned about 21,000 Russian-Belarusian railcars that had been idle for more than two years without proper management. According to experts, due to this inaction of the agency, the state lost millions that it could have received by transferring the cars to management.
But as soon as this story became public, the head of the ARMA, Olena Duma, hastened to announce that the agency had chosen a manager for as many as 436 cars out of 21,000.
However, such a statement only caused more public outrage. Former MP Ihor Mosiychuk statedthat the Duma could have deliberately delayed the process of finding managers for the Russian-Belarusian railcars, suggesting possible corruption motives and cooperation with the enemy.
A similar situation arose with another seized asset, the Flagman shopping center in Ivano-Frankivsk. This facility was transferred to the ARMA in October 2022, but all income from its operations continued to be received by its Russian owners. Only after a media outcry did the agency announce a tender for the management of the shopping center .
The problem is that the agency often reacts only after public pressure and media coverage. The question arises: why does ARMA not fulfill its duties properly from the very beginning? One of the main reasons, according to experts, is possible corruption motives. In particular, security expert Serhiy Shabovta statedthat the Asset Recovery and Management Agency is an instrument of "corruption and embezzlement.
Moreover, experts have repeatedly pointed out that ARMA inefficiently uses assets that could be useful to the state, especially in times of war. For example, seized sanatoriums could be used to rehabilitate wounded soldiers or provide shelter to IDPs. At the same time, heavy machinery such as excavators and bulldozers could help strengthen defensive lines or restore infrastructure, but instead are idle without use.
Analyzing the situation, it becomes clear that the key problem with ARMA is non-transparency and inefficiency. This was also pointed out by members of the ARMA's public council who recently resigned from their positions because of this.
The fact that ARMA operates mainly under public pressure is most likely indicative of systemic problems in its work. If these shortcomings are not corrected, the agency risks losing the trust of citizens and state institutions.