PanamaTimes

Thursday, Dec 26, 2024

US To Give Money Seized From Russian Oligarch To Ukraine As Aid: Report

US To Give Money Seized From Russian Oligarch To Ukraine As Aid: Report

The money will come from assets confiscated from Russian oligarch Konstantin Malofeyev after his indictment on sanctions evasions in April.
Attorney General Merrick Garland said Friday that he had authorized the United States to begin using seized Russian money to aid Ukraine, according to US media.

The announcement came during a meeting between Garland and Ukrainian Prosecutor General Andriy Kostin in Washington, nearly one year after Moscow's invasion of its former Soviet neighbor.

"Today, I am announcing that I have authorized the first-ever transfer of forfeited Russian assets for use in Ukraine," Garland said, according to CNN.

The money will come from assets confiscated from Russian oligarch Konstantin Malofeyev after his indictment on sanctions evasions in April, he added.

The money will go to the State Department "to support the people of Ukraine," CNN reported Garland as saying.

Kostin welcomed the move, which he said would see $5.4 million of confiscated assets go toward "rebuilding Ukraine."

"Delighted to see the new legislation aimed at seizing the Russian oligarchs' illicit assets in action," he posted on Twitter, along with a picture of himself and Garland during the meeting.

"All Ukrainians have, in one way or another, suffered from this war. It's our obligation to ensure the Ukrainian people receive compensation for all the tremendous damage done," he said.

"The inherent part of accountability is that the perpetrator pays for the harm inflicted," Kostin added at the end of his tweet thread.

Russian millionaire Malofeyev is considered one of the main sources of funding for pro-Russian separatists in eastern Ukraine.

In April, the US Treasury blacklisted a network of some 40 individuals and entities led by Malofeyev that it said were used to facilitate sanctions evasion.

"After being sanctioned by the United States, Malofeyev attempted to evade the sanctions by using co-conspirators to surreptitiously acquire and run media outlets across Europe," Garland told reporters at the time, when the Justice Department indicted him.

The United States has announced several packages of sanctions against Russian citizens and organizations since the start of Moscow's full-scale invasion of Ukraine in February 2022.

Treasury Department sanctions generally seek to freeze any assets under US jurisdiction of those targeted and ban any American individual or entity, including financial institutions with US branches, from doing business with them.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Texas Congresswoman Kay Granger Located in Nursing Home Following Six Months of Inactivity
A large group of unauthorized migrants is traveling through Mexico with the aim of reaching the USA before Trump assumes office.
A Democrat Congresswoman with blue and black hair is having a breakdown over "President Musk."
Argentina Defies Predictions with Record $17 Billion Trade Surplus, But Is the Growth Sustainable?
Disney's High Seas Gamble: Navigating the Waters of Cruise Expansion
The Surprising Impact of Extreme Heat on Mexico's Youth
Polarization: The Word That Unites a Divided Era
Exoneration in the Subway: The Complexities of Self-Defense and Public Safety
The Tragic Passing of UnitedHealthcare CEO Highlights Corporate Security Challenges
Global Developments: Violence in Sinaloa, Political Chaos in the Bahamas, Venezuelan Voting Disputes, and a Major UK Drug Bust
OpenAI and Anduril: Charting AI's Path in Modern Warfare
The Pardon of Hunter Biden: A Symbol of Hypocrisy
Biden Crafted the Strategy Used by Trump
South Korea's Democracy Tested: President Yoon’s Martial Law Reversal Sparks Political Reckoning
Seoul Crisis: Yoon Suk Yeol's Martial Law Blunder Triggers Political Upheaval
Generative AI's Limited Impact on Elections Highlighted by Meta
France at the Precipice: Barnier’s Administration Confronts Unprecedented No-Confidence Vote
Jaguar Unveils Electric Concept Car, Type 00
White House Defends Presidential Pardon of Hunter Biden
xAI by Elon Musk: Transforming Ambition with a $50 Billion Valuation
President-elect Donald Trump, has announced on Truth Social that Kashyap "Kash" Patel, will be the next Director of the FBI
A Historic Milestone or Risky Precedent? The Assisted Dying Bill Splits both Parliament and the Nation in England and Wales
Trump's Tariff Threat Looms Large as Trudeau Heads to Mar-a-Lago for Talks
Canada's Oil Industry Faces Uncertainty Amidst Trump's Tariff Threat
World Court to Assess Global Legal Responsibilities on Climate Change
What the Pink Elephant Test Reveals About Thought Control
Trudeau Visits Trump in Florida Amid Rising Tariff Concerns
Is Elon Musk the Unofficial President of America?
Impact of Proposed US Tariffs on Canadian Oil Exports
U.S. policymakers face a contentious debate over whether to engage with Nicolás Maduro's regime in Venezuela.
COP29's Carbon Trading Deal Faces Major Criticisms
Indian Diplomats in Canada Monitored: Government Raises Alarm
Putin Warns Trump of Ongoing Safety Concerns
Claudia Sheinbaum Challenges Trump's Migration Claims
Insights from Dostoevsky: The Impact of Self-Deception
Trump Administration Nominees Face Threats, FBI Confirms
Elon Musk Criticizes Fighter Jets, Advocates for Drone Warfare
Kim Kardashian's Social Media Activity Fuels Political Speculation
An Examination of AI's Influence on Future Work and Life
Tulsi Gabbard's Contentious Nomination for Director of National Intelligence
$100,000 Trump Watch Faces Slow Sales
Surge in Golden Visa Interest Among Americans Post-Trump Election
Elon Musk and Vivek Ramaswamy Aim to Reduce US Federal Spending
Donald Trump nominated Linda McMahon for the position of Secretary of Education.
Russia Pledges Response Following Ukraine's Use of US Long-Range Missiles
Joe Biden Joins G20 Leaders' Photo Re-Take in Rio
Trump Plans to Reverse Biden's Fuel and EV Regulations
WHO Approves Second Vaccine for Mpox Emergency Use
Donald Trump's Unnamed Presence Looms Over G20 Summit
Trump Media and Technology Group's Shares Surge Amid Crypto Exchange Acquisition Talks
×