The US plans to begin transferring confiscated Russian assets to Ukraine in the coming months

Author:
Anna Kholodnova
Date:

The US Department of Justice plans to begin transferring part of the confiscated Russian assets to Ukraine through the State Department in the coming months.

This is reported by Ukrinform with reference to Andrew Adams, director of the Task Force KleptoCapture of the US Department of Finance.

On December 22, the US Congress passed the law on the state budget for 2023. President Joe Biden signed it. The law allowed the Ministry of Justice, through the state secretary, to transfer confiscated Russian funds to the benefit of Ukraine.

Assets seized due to export control violations are not covered by this rule, Adams said.

"Itʼs not a silver bullet, but itʼs hopeful that weʼll see the first transfers [of seized assets] from the Justice Department to the State Department in the coming weeks and months," he said.