KIEV, March 10. /TASS/. Ukrainian President Vladimir Zelensky has signed the law on the confiscating the property of Russia and Russian residents in Ukraine, the Ukrainian legislature said on Thursday.

"Ukrainian President Vladimir Zelensky signed the law of Ukraine ‘On the main principles for confiscation in Ukraine of objects of property rights of the Russian Federation and its residents’ that was adopted by the Verkhovnaya Rada," the legislature said in a statement. "The law defines the legal basis for confiscation of objects of property rights based on social need."

It’s stated that military necessity can also serve as a motive for confiscation. According to the law, confiscations in Ukraine of property belonging to Russia and its residents don’t stipulate any compensation.

On February 24, Ukraine declared martial law.