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16:59 17 Feb 2024

United to win: US to give Estonia $500,000 of confiscated Russian assets for Ukrainian aid

Photo: slovoidilo.ua

For the first time in history, the United States of America handed over confiscated Russian assets to Estonia, which will be used to support Ukraine.

The US Ministry of Justice reported this.

Today, at the Munich Security Conference, US Deputy Attorney General Lisa Monaco and Estonian Secretary General Tõnis Saar announced the transfer of $500,000 from confiscated Russian assets.

These funds were seized in connection with an illegal procurement ring. Specifically, the group attempted to bring an American-made grinding machine into Russia to be used in defense and nuclear proliferation activities. On February 14, one of the suspects, a Latvian citizen, has already admitted to breaking US export laws and regulations.

The confiscated funds cannot be directly transferred to Ukraine, so they are transferred to Estonia. The country will use the money for a project to accelerate damage assessment and repair of the Ukrainian energy system.

"This step toward justice and recovery paves a new path in the fight against Russia's continued brutality. The Ministry of Justice will continue to look for creative solutions so that the Ukrainian people can […] rebuild," US Deputy Attorney General Lisa Monaco stressed.

This is the first transfer of funds from the United States to a foreign ally for the benefit of Ukraine. In general, the USA has provided Ukraine with confiscated Russian assets for the second time; the first time, the amount reached 5.4 million dollars.

For reference:

From 2022 to 2023, and as of the beginning of August, the Security Service of Ukraine seized the assets of Russian business people financing the war, worth almost 190 billion hryvnias.

In addition, the assets of Russian oligarchs are being seized abroad:

 

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