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US to transfer forfeited Russian funds to Ukraine once again

Sunday, 18 February 2024, 05:14
US to transfer forfeited Russian funds to Ukraine once again
Lisa Monaco, Photo: Getty Images

The US Department of Justice announced on 17 February that the US had sent US$500,000 of forfeited Russian funds to Estonia to repair Ukraine's energy infrastructure.

Source: US Department of Justice

Details: The Department of Justice reported that the United States received the funds after exposing an illegal procurement network that attempted to import US-made precision machine tools to Russia.


Deputy US Attorney General Lisa Monaco said the gesture demonstrates the commitment of the US and Estonia to stop Russia's access to critical Western technology.

The 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 US Department of Justice's Task Force has provided confiscated Russian assets to Ukraine. Last year, it transferred US$5.4 million in seized funds to the US Department of State to support Ukrainian war veterans.

The forfeited funds will be transferred to Estonia, as the case's specifics do not allow for a direct transfer to Ukraine.

Estonia will use the funds for a project to galvanise damage assessment and critical repairs to Ukrainian energy facilities that Russian forces have targeted.

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