February 5, 2023

Athens News

News in English from Greece

US transfers part of confiscated Russian assets to Ukraine

The US Department of Justice announced the decision to start transferring part of the confiscated assets of the Russian Federation to Ukraine.

This was stated on Thursday, January 19, by Andrew Adams, head of the US Department of Justice working group on the application of sanctions against Russia, speaking at the Hudson Institute at a seminar:

“I want to emphasize that this is a relatively new development.”

Boris Johnson, the former Prime Minister of Great Britain, earlier called for the transfer of money frozen in the West to Russia for the restoration of Ukraine, writes BB.LV, stressing that Moscow must pay reparations to Kyiv. He said he would support laws to seize Russian assets and turn them over to fund Ukraine’s reconstruction.

Ignazio Cassis, head of the Swiss Foreign Ministry, also did not rule out the use of frozen assets to restore war-torn Ukraine. However, he believes that so far there is no legal basis for such a step.

On January 12, the EC supported Estonia’s intention to proceed with the confiscation of Russian financial assets, without waiting for other countries of the association.

Our publication previously reported that Germany ready to arrest Russian assets, which he will send to help in the restoration of Ukraine, and Malta and Greece – two countries where during the 10 months of the war in Ukraine the smallest freeze among all countries EU amount of Russian assets. For the entire period after the start of the Russian invasion of Ukraine, Greece froze assets for only 212 thousand euros, and Malta – for 147 thousand euros. Thus, these countries lag behind other states of the European Union and slow down the process, the agency said. Reuters January 11th.

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