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US to transfer Ukraine assets confiscated from sanctioned Russian oligarchs for first time

Seized funds will be transferred to Ukraine as part of the new aid package announced on September 6, 2023.

“For the first time, we are transferring to Ukraine assets seized from sanctioned Russian oligarchs, which will now be used to support Ukrainian military veterans,” said US Secretary of State Antony Blinken during the joint press conference with Ukraine’s Foreign Minister Dmytro Kuleba.

US Secretary of State Antony Blinken.
Video screeshot: US Department of State website

Blinken also added that “those who have enabled Putin’s war of aggression should pay for it”. This concerns about $5,4 million to be directed to the support and rehabilitation of Ukrainian veterans of war.

Earlier, Andrii Kostin, Prosecutor General of Ukraine, announced the authorization of the transfer of the confiscated assets of Russian oligarchs to the US Department of State. These funds, in the amount of $5,4 million, were aimed toward aiding Ukraine.

As reported, Ukraine will get seized Russian assets as part of the new complex aid package from the US government. In particular, it includes $175 million in direct military assistance, as well as $100 million for Ukraine’s long-term military needs. In addition, the new aid package also involves $300 million to support the efforts of the Ukrainian law enforcement agencies to restore and maintain law and order in the liberated territories, as well as $206 million for humanitarian assistance, such as food, drinking water, medical care, and shelter for internally displaced persons in Ukraine and abroad.