U.S. Authorities First-Ever Seized Russian Assets For Use In Ukraine

The United States has authorized the first-ever transfer of forfeited Russian assets for use in Ukraine, TURAN's Washington correspondent reports.

The money came from assets confiscated from Russian oligarch Konstantin Malofeyev who has been accused by the U.S. authorities of financing separatists in Crimea.

Last week a federal district judge in New York ruled that prosecutors may seize $5.4 million belonging to Malofeyev, paving the way for the funds to be used to help rebuild Ukraine.

Following the court decision, the U.S. Attorney General Merrick Garland authorized the transfer of forfeited assets to the State Department “to support the people of Ukraine," as the Justice Department put it.

Asked by TURAN what kind of message would it send to Russian oligarchs, spokesperson Ned Price said on Monday that the message is "very simple": "Those who would support this brutal war should not expect to have impunity, that they will find themselves on the other end of important tools that we have at our disposal to hold them to account."

"Anyone who supports this war who is subject to our sanctions authorities, to our broader economic authorities, puts themselves in a vulnerable position" Price said.

The spokesperson didn't provide further details on how the money will be allocated.

According to him, the State Department is "determined to be creative" in ways that it supports the Ukrainian people — both in terms of their near-term security, humanitarian and economic needs, as well as "needs that they’ll have over the longer term when it comes to reconstruction and to rebuilding their country."

Alex Raufoglu

Washington D.C.