US to use seized Russian money to aid Ukraine

Washington: The United States has decided to donate seized Russian money to Ukraine as aid. US Attorney General Merrick Garland informed on Friday that he had authorised the same, Agence France-Presse reported citing US media.

Garland made the announcement during his meeting with the Ukrainian Prosecutor General (PG) Andriy Kostin here. The move comes as it reaches nearly a year after Russia initiated an offensive at Ukraine.

According to CNN, Garland said that he is announcing that he has authorised the first-ever transfer of forfeited Russian assets for use in Ukraine.

He said that the money is raised from the assets confiscated from Russian oligarch Konstantin Malofeyev, who he was charged with sanctions evasion in April. The money will be utilised by the US state department to aid the Ukraine people.

Ukrainian PG Kostin welcomed the move and said that he would ensure that the $5.4 million of confiscated assets were used to rebuild his country. He was delighted to see the new legislation aimed at seizing Konstantin's illegal assets in action, he said.

According to him, all Ukrainians have suffered from the war, and it's their obligation to ensure that Ukrainian people receive compensation for all the damages. The perpetrator paying for the harm inflicted is an inherent part of accountability, he added.

It is widely known that Russian millionaire Malofeyev is one of the main funding sources for pro-Russian separatists in eastern Ukraine. The US had blacklisted a network of 40 people as well as entities, who were led by the oligarch to facilitate sanction evasion.