MOSCOW, May 14 (RAPSI) – About 300 items of property of Ukrainian banks that have stopped working in Crimea after its reunification with Russia in 2014 have been seized, RIA Novosti reported on Thursday, citing Andrei Melnikov, head of the Deposit Protection Fund.

Crimea joined Russia following a referendum in mid-March last year. A number of Ukrainian banks subsequently refused to allow their local clients from withdrawing their deposits, which affected over 200,000 people. Russia’s Deposit Protection Fund, which was established by the Deposit Insurance Agency, pledged to compensate deposits of up to 700,000 rubles ($14,100) per person.

“We have most likely found all of the Ukrainian banks’ property in the Crimean Federal District of Russia, or about 300 items of real estate, in addition to their ATMs, vehicles and other less expensive property,” Melnikov said at a news conference in Simferopol.

He said this property would be foreclosed by court decisions.

Returns from the sale of this property will be used to compensate corporate deposits at these banks. “The Crimean courts are hearing corporate lawsuits filed to collect nearly 18 billion rubles ($363 million),” Melnikov said.