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The conundrum of confiscating Russian assets to Ukraine

2023-05-25T15:49:53.329Z

Highlights: The amount is estimated to be between $1.5 and $2.5 billion. The money will be used to pay for a number of projects around the world. It will also be used as a source of income for the people of the Ukraine. The project was started in 2007, but has now been extended to cover the cost of a new embassy in Kiev. It is expected to be completed by the end of the year. The cost of the project is estimated at around $1 to $2 billion.


DECRYPTION - The European Union has blocked nearly 200 billion euros from the Russian central bank in Belgium.


For the first time, the United States announced on May 10 that it had sent Ukraine money seized from a Russian oligarch convicted as part of sanctions targeting Vladimir Putin's relatives after Russia's aggression against the country.

The amount was not specified but $ 5.4 million had previously been confiscated by a judge in New York from the American accounts of businessman Konstantin Malofeev, founder of a television channel close to the Kremlin. This first transfer of seized money for the reconstruction of Ukraine "will not be the last," warned the US Secretary of Justice.

After adopting multiple sets of sanctions against the Russian regime and its relatives since the beginning of the war, the West is studying legal ways to permanently confiscate seized property in order to allocate it to Ukraine. The stakes are enormous: the envelope is estimated at some 350 billion dollars, divided between about 300 billion...

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Source: lefigaro

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