US to transfer assets confiscated from Russian oligarchs to Ukraine

The United States will transfer the assets confiscated from sanctioned Russian oligarchs to Ukraine.

US Secretary of State Antony Blinken stated this at a joint press conference with the Minister of Foreign Affairs of Ukraine Dmytro Kuleba, Interfax-Ukraine reports.

"For the first time, we are transferring assets confiscated from Russian oligarchs to Ukraine. Now, they will be used to support Ukrainian military veterans," said Blinken.

Arrest of Russian assets

During 2022-2023 and as of the beginning of August, Ukraine's Security Service seized the assets of Russian businessmen financing the war, worth almost ₴190 billion ($5.1 billion). It concerned the corporate rights and real estate of dozens of enterprises, the ultimate beneficiaries of which are the Russian corporations Rosneft, Rosatom", "Gazprom, Rostech, and Russian banks.

Economic sanctions were also applied to more than 4,000 Russian companies that directly financed the military invasion, helped Russia circumvent sanctions, and purchased materials, military equipment, and weapons components in other countries.

Assets of Russian oligarchs are also being seized abroad. Great Britain has frozen more than £18 billion ($23 billion) of assets and imposed sanctions against more than 1,550 Russians since the Russian Federation's full-scale invasion of Ukraine and as of mid-June this year. The Czech Republic froze the assets of Russian oligarch Vladimir Yevtushenkov, who is close to Russian President Vladimir Putin.

Poland also offered to give the frozen assets of the Russian Federation to Ukraine and EU countries.