US transfers about $500,000 in forfeited Russian funds to Estonia for benefit of

US Deputy Attorney General Lisa Monaco and Estonian Secretary
General Tõnis Saar announced at the Munich Security Conference the
transfer of nearly $500,000 in forfeited Russian funds for the
purpose of providing aid to Ukraine, Azernews
reports, citing the US Department of Justice.

The funds were forfeited by the United States following the
breakup of an illegal procurement network attempting to import into
Russia a high-precision, US-origin machine tool with uses in the
defense and nuclear proliferation sectors. Additionally, on Feb.
14, a citizen of Latvia charged criminally in connection with the
procurement scheme pleaded guilty to violating US export laws and
regulations.

This transfer is the first of its kind from the United States to
a foreign ally for the express purpose of assisting Ukraine, and
the second time the Justice Department’s Task Force KleptoCapture
has made confiscated Russian assets available for Ukraine—having
provided $5.4 million in forfeited funds last year to the State
Department for the support of Ukrainian war veterans. The
confiscated funds are being transferred to Estonia since under
current authorities, the facts of this case do not allow for a
direct transfer to Ukraine. Estonia will use the funds for a
project to expedite damage assessments and critical repairs to the
Ukrainian electrical distribution and transmission system, which
have been purposefully targeted by Russian forces.

The Department noted that together with its international
partners, it will seek and develop novel solutions to ensure that
the profits of Russian networks are redirected for the support of
the Ukrainian people.

—

Follow us on Twitter @AzerNewsAz