London Daily

Focus on the big picture.
Sunday, Jun 01, 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
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
×