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"Of course, if the so-called good faith purchasers are among the firms that are appealing and whose appeals will be rejected [by Ukrainian courts], indeed they may go to European courts and expect a European court to listen to them," he said, Radio Svoboda reported.

Read alsoPGO explains why "Yanukovych's money" case classifiedOn March 28, 2017, a court in the eastern Ukrainian town of Kramatorsk ruled to apply the special confiscation rules to $1.5 billion belonging to Yanukovych and his allies as part of legal proceedings against Arkady Kashkin, the ex-director of Gaz of Ukraine 2020.

A month later, the ruling came into force.

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Ukrainian President Petro Poroshenko said then the funds would be spent, first of all, on the Ukrainian army.

In September 2017, the PGO confirmed that the first $200 million of the confiscated assets had been funneled to the budget.