ARMA in Numbers: Report on Anti-Corruption Efforts and Analysis of Asset Sales from Elite Maybach Cars to Thousands of Tons of Wheat
The demand for transparency from state institutions managing billion-dollar assets is extremely important for the rule of law. The editorial team of the "Judicial and Legal Newspaper" addressed ARMA with a list of questions: from the composition of the selection committee for the Head to specific income amounts received from asset management. The received response allows not only to assess the current state of the agency's anti-corruption policy but also to analyze the dynamics of asset sale efficiency, which, according to reports, shows a trend of declining activity.
Conflict of Interest Prevention Policy
ARMA's anti-corruption policy today is based on a three-level system: the specialized Law of Ukraine "On Prevention of Corruption," internal anti-corruption programs, and special selection procedures. An important element is employees' compliance with Article 28 of the Law, which obliges them to take measures to prevent conflicts of interest and report them no later than the next working day.
Regulatory regulation of work with violation reports has become an important step in strengthening the internal control system.
By ARMA orders dated 03.05.2024 No. 189 and 30.05.2024 No. 224 (registered with the Ministry of Justice on 01.07.2024), mechanisms for whistleblower incentives and a clear procedure for reviewing their reports were introduced. The agency declares zero tolerance for corruption, supported by regular staff training and monitoring of compliance with restrictions.
From Prozorro to Digital Communication Channels
ARMA emphasizes that one of the main "anti-corruption safeguards" in the manager selection process is the use of the Prozorro system. This minimizes the human factor and creates conditions for public oversight. Additionally, ARMA has implemented mandatory checks of potential managers for connections with asset owners or agency employees themselves.
To ensure feedback, ARMA is integrated into the Unified Whistleblower Reporting Portal. A whole network of channels operates for reporting conflicts of interest:
- Special hotline: 044-290-08-54.
- Email addresses: [email protected] and [email protected].
- Forms on the official website and the possibility of written appeals.
New control elements are currently being created: a specialized internal control unit and the Public Control Council, which are to complete the formation of a "unified ecosystem" of oversight.
Analysis of Asset Sales in 2023–2025
During the studied period, the total estimated value of assets put up for sale amounted to UAH 1,448,634,760.10.
However, the actual amount received from sales was lower — UAH 1,307,506,021.72.
Total discount: Over three years, the difference between the valuation and the sale price (actual losses relative to expectations) amounted to UAH 141,128,738.38.
On average, assets were sold at a discount of 9.74% from their estimated value.
The ratio of actual sales to valuation for the entire period is 90.26%.
Efficiency Dynamics by Year
Yearly analysis reveals a clear trend of declining profitability of operations:
2023: The most productive year. With an estimate of UAH 587.9 million, UAH 570.6 million was raised, ensuring a record efficiency of 97.1%. Sales occurred almost at full estimated value with minimal discount.
2024: Indicators began to fall. With an estimate of UAH 373.4 million, the sale amount was UAH 325.4 million, and efficiency dropped by 10 percentage points — to 87.1%.
2025: Shows the lowest sales level. Despite increased asset volumes (estimate of UAH 487.3 million), actual revenue was UAH 411.5 million, corresponding to only 84.4% efficiency.
This indicates a growing absolute discount and instability in sales volumes, which may be related both to changing market conditions and the structure of the assets themselves.
Structure of Sold Assets
Among the assets undergoing sales procedures, the following categories stand out:
Agricultural Products and Raw Materials: Significant volumes of grains (wheat, barley, corn), fertilizers (NPK 15:15:15), and sunflower oil. For example, large batches of wheat were sold for amounts exceeding UAH 111 million.
Transport and Special Equipment: From elite cars such as Maybach 57 (sold for UAH 1.8 million) and Ford Mustang (UAH 512 thousand) to Mercedes-Benz Actros trucks and Bombardier ATVs.
Electronics and IT Equipment: A large amount of Apple equipment (various iPhone models, MacBook, iPad), as well as specialized cryptocurrency mining equipment (Sapphire Nitro and MSI Radeon RX580 video cards).
Other: Fuel and lubricants, weapons (Marlin and Savage rifles), alcoholic products, and even firewood.
ARMA reports for 2023–2025 include significant volumes of raw materials and goods belonging to various enterprises. ARMA emphasizes that when working with integrated property complexes and corporate rights of enterprises, the main task is selecting an effective manager.
"Capacities," according to ARMA, are not only production lines but also huge commodity stocks of raw materials and logistics assets (vessels, Mercedes-Benz Actros trucks), which the agency tries to sell or transfer for management at market prices.
ARMA's response indicates the agency's efforts toward formalizing anti-corruption procedures. The introduction of digital channels for whistleblowers and the use of Prozorro are undoubtedly positives that meet European transparency standards. However, the economic decline in sales performance over three years points to risks: either an objective deterioration in the quality of seized assets or imperfections in sales procedures leading to significant discounts.
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