In the USA, the first decision was made regarding the confiscation of assets that may go to Ukraine

[ad_1]

A district judge in Manhattan federal court on Thursday allowed prosecutors to seize $5.4 million belonging to sanctioned Russian oligarch Konstantin Malofeev, paving the way for further transfers of those funds to Ukraine.

As European Truth reports, this is stated in a Reuters article.

Malofeev, who is the owner of Tsargrad TV, was accused of financing separatism in Crimea and came under US sanctions in 2014. Eight years later, the American prosecutor’s office accused him of evading sanctions.

In late 2022, prosecutors said in court that they had the right to seize money in Malofeev’s Sunflower Bank account in Denver because he tried to transfer it to a business partner in violation of US sanctions.

Because the Russian oligarch did not contest the forfeiture request, prosecutors on Thursday said the funds should be forfeited by default, a decision the court approved.

After confiscation, according to the US amendment to the budget legislationMalofeev’s money can be directed to the needs of Ukraine’s recovery.

Today, apart from the USA, only Canada among Ukraine’s allies has adopted a mechanism for the confiscation of Russian assets in favor of Ukraine. It was there in June amendments to the Law “On Special Economic Measures” were adopted (Special Economic Measures Act), which made it possible to confiscate and use Russian assets to help Ukraine.

In addition, Estonia plans to introduce the legal basis for the confiscation of Russian assetsmoving forward in an attempt to transfer funds to Ukraine frozen under European Union sanctions.

[ad_2]

Original Source Link