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Espreso Global Sanctions against Russia US transfers Russian oligarch's confiscated funds to Ukraine for the first time

US transfers Russian oligarch's confiscated funds to Ukraine for the first time

4 February, 2023 Saturday

17:10

Sanctions against Russia

On February 3, the US Attorney General for the first time allowed the transfer of confiscated funds, namely USD 5.4 million, of Russian oligarch Konstantin Malofeyev to Ukraine

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CNN reports that during a meeting with Ukrainian Prosecutor General Andrii Kostin, US Attorney General Merrick Garland announced the first transfer of confiscated assets due to sanctions against a Russian oligarch.

“Today, I am announcing that I have authorized the first ever transfer of forfeited Russian assets for use in Ukraine. These forfeited assets follow the announcement I made last April of the indictment of designated Russian oligarch Konstantin Malofeyev, on charges of sanctions evasions,” Garland said.

He explained that according to the document, the seized funds will be transferred to the State Department to support the people of Ukraine.

“Today, we are witnessing the authorization of transfer of the confiscated assets in the amount of USD 5.4 million US dollars to the State Department for the purpose of rebuilding war ravaged Ukraine,” Kostin added.

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