London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

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

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×