On Friday, US Attorney General Merrick Garland, announced the US had completed the first transfer of seized assets, confiscated from a Russian businessman under anti-Russia sanctions, and given to Ukraine to help pay for the country’s reconstruction.
The transfer consists of $5.4 million seized from Russian businessman Konstantin Malofeyev, on grounds of sanctions-evasion, according to Garland.
Garland said in his statement, “With my authorization today, forfeited funds will next be transferred to the State Department to support the people of Ukraine,” adding the funds had been confiscated as part of an indictment of the businessman which was issued last April.
In April, the US Treasury Department announced sanctions against individuals “for having acted or purported to act for or on behalf of, directly or indirectly” the Russian government. In June, under those sanctions, millions were seized from a US bank account belonging to Malofeyev.
Last week, prosecutors were given the green light by a court in New York to seize $4.5 million belonging to Malofeyev, which allowed the funds to be transferred to Ukraine.
Malofeyev owns the Russian Orthodox Christian channel Tsargrad TV, and was placed on a US sanction list on 2014. He has since claimed he maintained no holdings in the West since then.
US President Joe Biden signed a law in December which allows the Department of Justice to release some forfeited assets to the State Department, to be released to Ukraine. US law restricts how the government can make use of those assets.
