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The US Authorizes Transfer of Confiscated Assets from RF to Ukraine

May 11, 2023

US Attorney General Merrick Garland has authorized the first transfer of confiscated Russian assets for use in Ukraine, he said on Wednesday.


According to Ukrinform, Reuters reports.

Last year, the US Department of Justice accused Russian oligarch Konstantin Malofeev of violating sanctions imposed on Russia after it invaded Ukraine, in particular, he financed Russian separatists in Crimea.

At the same time, Garland announced the "seizure of millions of dollars in an account at a US financial institution, which is related to Malofeev's sanctions violation."

In February, the Attorney General approved the transfer of this money for use in Ukraine.

"While this is the first time the United States has transferred confiscated Russian funds to rebuild Ukraine," Garland said, "it will not be the last," he said in a statement.

As Ukrinform reported, earlier the District Court of the Southern District of New York ruled to confiscate Malofeev's funds.

The court documents state that at the end of last year, Malofeev tried to transfer funds from an account at the Denver-based Sunflower Bank to a business partner in violation of US sanctions. As a result, the money was confiscated.

Author - Serhii Kolomiets, 11/05/2023

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