The US-headquartered Trout Cacheris law firm has found embezzlement of assets worth of more than UAH 3 billion (USD 1 - UAH 7.96) received from the sale of quotas for greenhouse gas emissions, Finance Minister Fedir Yaroshenko said commenting on the outcome of the international audit in parliament on Friday, UKRINFORM reported.

"The audit study showed that international agreements were violated in using the funds received from the sale of quotas for greenhouse gas emissions under the Kyoto Protocol," the minister said. He added that the quotas, in particular, were acquired by Japanese companies who paid Ukraine EUR 320 million (USD 3.2 billion).

Yaroshenko stressed that these funds should have been sent to environmental projects, but were converted to the hryvnia and transferred to the single account of the State Treasury. After that the money was used for the needs of the Ministry of Internal Affairs, Ministry of Social Policy, and other inappropriate ways.

The minister said the case is being probed into by the investigative authorities and the Prosecutor General's Office, which will later give complete information about the use of these funds.

Yaroshenko added that the audit was conducted by the credible international audit firm Trout Cacheris. The audit of the previous government is unbiased, because "this audit company has no interest in Ukraine and no links with the political elite in Ukraine," he said.

Yaroshenko also said that the Cabinet intends to use all mechanisms to return to the state budget the funds used by the previous government not for its intended purpose. "Materials have been sent to law enforcement agencies in the UK, USA and courts. Now the necessary procedural steps are taking place," he stressed.

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