US to transfer assets confiscated from Russian oligarch to Ukraine

The United States will for the first time hand over assets expropriated from a sanctioned Russian oligarch to Ukraine, the State Department announced on Wednesday as Secretary of State Antony Blinken arrived in Kyiv on an unannounced visit.

A total of $5.4 million that was confiscated from Russian oligarch Konstantin Malofeyev is to be transferred to Ukraine for veteran reintegration and rehabilitation.

Malofeyev is the founder of Russia’s ultraconservative Tsargrad TV channel, which is known for its deeply religious stance and for spreading conspiracy theories.

The assets in question were reportedly discovered in a US bank account held by Malofeyev. Prosecutors claimed that the oligarch attempted to transfer the funds to his business partner in violation of the US sanctions he has been subject to since 2014.