US Justice Department Asks Congress to Legalize Transfer of Seized Russian Assets to Ukraine

The money will be used to compensate for the damage that Ukraine bears because of the war.

Congress can help transfer Russian assets to Ukraine / photo ua.depositphotos.com
Congress can help transfer Russian assets to Ukraine / photo ua.depositphotos.com

The US Justice Department is asking Congress to legalize the transfer of frozen Russian assets to Ukraine.

This was  stated by the head of the ministerial working group on the application of sanctions against the Russian Federation, Andrew Adams, during a hearing in the Senate Committee on Banking, Housing and Urban Affairs.

According to him, the property and money will be used to compensate for the damage that Ukraine bears because of the full-scale war on its territory.

“Such a proposal would allow the Departments of Justice, the Treasury and the State Department to work together to channel funds confiscated by the US government to reparations in Ukraine,” Adams said.

He noted that unblocking the process requires “amendments to numerous regulations governing the use of confiscated funds.”

“Generally, existing legislatures and regulators require that confiscated funds be used to compensate victims of the crimes underlying the forfeiture and for law enforcement purposes,” Adams said.

Recall that this is happening against the background of today’s statements by the occupiers about the preparation of a number of illegal referendums on the annexation of Ukrainian territories to Russia.

As UNIAN reported, the so-called “People’s Council” of the pseudo-republic of the “LPR”  voted to hold a “referendum” on joining the Russian Federation from September 23 to 27 . DPR leader Denis Pushilin said they would hold their own “referendum” in the same period.

Also in the Kherson region, the invaders  announced a “referendum” on joining the Russian Federation .

(C)UNIAN 2022

2 comments

  1. This decision has been in the pipeline for some while. It’s the right thing to do.
    Ukraine needs this cash right away. While this unlocking process is being expedited, some of the top 50 banks could be persuaded to underwrite this sum and start paying some money upfront to Ukraine.
    This would inspire business confidence in Ukraine and might even produce more investment from foreign companies.
    These big banks could come up with $50bn straight away; it’s small change to them.
    The $350bn in no way replaces reparations though. That’s a separate issue and must be resolved quickly through the courts. That process should start immediately.

    Liked by 3 people

    • As much as I’d love to agree even with confessional approval I wonder how many US cockroach lawyers will come out of the woodwork to stop it or certainly delay it. Look at 911 and Saudi Arabia still not sure who got anything out if that!!!

      Liked by 4 people

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