US Transfers Nearly $500,000 in Confiscated Russian Funds for Funding Ukraine: DOJ

DOJ: Nearly $500,000 Confiscated Russian Funds Transferred to Support Ukraine

February 18, 2024 TruthUSA

This is the first time the United States transferred forfeited funds to a foreign ally to assist Ukraine.

The United States has announced the transfer of some of the forfeited Russian wealth to repair electrical infrastructure in Ukraine damaged by invading Russian troops, as stated by the Department of Justice (DOJ).

U.S. agencies confiscated almost $500,000 in Russian funds last year after intercepting an illegal attempt to export an American-origin tool to Russia, which has applications in the defense and nuclear sectors. According to the DOJ’s Feb. 17 press release, these funds have been transferred to Estonia for the purpose of aiding Ukraine. The funds will be used for “expediting damage assessments and critical repairs to the Ukrainian electrical distribution and transmission system, which have been purposefully targeted by Russian forces.”

This marks the first such transfer by the United States to a foreign ally for the explicit purpose of assisting Ukraine and is the second time that the DOJ’s KleptoCapture has confiscated Russian assets and made them available for Ukraine. KleptoCapture, a task force announced in 2022, seeks to enforce America’s sanctions, export restrictions, and other economic countermeasures imposed on Russia for the incursion into Ukraine. Last year, KleptoCapture made available $5.4 million in confiscated Russian assets for the benefit of Ukrainian war veterans.

The $500,000 in funds are being transferred to Estonia rather than directly to Ukraine since “the facts of this case do not allow” for a transfer to Kyiv, the DOJ stated.

Deputy Attorney General Lisa Monaco, who signed the transfer agreement on behalf of the United States, stated, “Today’s announcement demonstrates the unwavering resolve of the United States and our Estonian partners to cut off President Putin’s access to the Western technologies he relies on to wage an illegal war against Ukraine.”