Russian Oligarch Assets: US Allocates $5.4 Million in Seized Funds for Ukrainian Veterans, Stirring Controversy
During his visit to Kyiv, US Secretary of State Antony Blinken emphasized that the responsibility for Russian oligarch assets should fall on those who enabled Russian President Vladimir Putin’s aggressive actions in Ukraine.
The recent dispute between the United States and Russia centers on the allocation of $5.4 million in seized Russian oligarch assets to assist Ukrainian military veterans.
According to an article published by Business Insider, the recent controversy between the United States and Russia revolves around the US’s decision to allocate $5.4 million in seized Russian oligarch assets to support Ukrainian military veterans. US Secretary of State Antony Blinken made this announcement during his visit to Kyiv, emphasizing that those who have enabled Russian President Vladimir Putin’s aggressive actions in Ukraine should bear the consequences.
In response, Russia expressed outrage and deemed the transfer of Russian oligarch assets to be illegal. Kremlin spokesperson Dmitry Peskov denounced the move, stating that any actions related to the seizure or blocking of Russian oligarch assets abroad, whether state, private, or mixed property, were considered unlawful by Russia.
Furthermore, Peskov pledged that Russia would pursue legal action regarding the transfer of Russian oligarch assets, leaving “not a single case of such illegal retention” unaddressed.
According to an article published by Other Web, the Russian oligarch assets in question were traced back to Konstantin Malofeyev, a Russian oligarch who had been previously sanctioned by the US in 2014 for allegedly supporting Moscow-backed separatists in Crimea. Additionally, he faced accusations of conspiring to transfer a $10 million bank investment related to Russian oligarch assets to an associate in Greece with the help of former Fox News director Jack Hanick, who was later arrested for violating US sanctions.
This asset transfer of Russian oligarch assets comes in the wake of the US imposing sanctions on various Russian oligarchs as a response to Russia’s invasion of Ukraine.
While some initially viewed these sanctions as symbolic, they have collectively frozen more than $58 billion in Russian oligarch assets. Moreover, Secretary Blinken pledged an additional $665.5 million in military and civilian aid to Ukraine, underscoring the US commitment to supporting Ukraine in its struggle against Russian aggression.