U.S. will transfer half million dollars of Russian assets to Estonia for Ukraine

U.S. will transfer half million dollars of Russian assets to Estonia for Ukraine

The United States will transfer funds obtained from a Russian smuggling ring to Estonia for the benefit of Ukraine.

The relevant international agreement between the United States and Estonia was signed in Munich on the sidelines of the security conference, according to an Ukrinform correspondent.

The document was signed by U.S. Deputy Attorney General Lisa Monaco and Secretary General of the Estonian Ministry of Justice Tõnis Saar.

Global efforts to counter Russian aggression require global partnership, and this agreement is an example of such a partnership, stated Monaco.

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Under the agreement, the United States will donate nearly half a million dollars to Estonia to support the KleptoCapture Taskforce. Estonia will then donate the funds to Ukraine.

This action is the first of its kind and is the result of the work of the KleptoCapture task force, which enforces sanctions and export restrictions imposed in response to Russian aggression and in support of Ukraine. The agreement will help the people in Ukraine who continue to bravely resist the Russian aggressor, said Monaco.

She noted that this group confiscated money from an illegal network that was trying to illegally export high-precision equipment from the United States to Russia that could be used in the development of dangerous weapons and nuclear weapons.

The network was exposed, and 6 people, including a Latvian citizen, were charged with violating export control rules and money laundering.

The US Deputy Attorney General assured that the KleptoCapture platform, which was established in March 2022 to track down the proceeds of those who illegally support the Russian war machine by circumventing sanctions, will continue to seize funds and transfer them to Ukraine. In the absence of appropriate congressional action, the Office of the Attorney General will act on the basis of its existing authority to support Ukraine. Oligarchs' wealth, illegal transactions, etc. "worth hundreds of millions of dollars" are now under investigation, Monaco said.

She explained that the funds will now be transferred through Estonia, because in this case, a direct transfer is not possible.

The funds will be used in a special fund to quickly restore the destroyed power grid in Ukraine.

For his part, Tõnis Saar expressed hope that this agreement would encourage other countries to seize Russian assets in favor of Ukraine. He noted that sanctions are only effective when fully implemented. The Estonian representative acknowledged the difficulty in tracing those who circumvent sanctions and bringing them to justice.

The ceremony was also attended by Assistant U.S. Attorney General for National Security Matthew Olsen and Estonian Foreign Minister Margus Tsahkna.

As reported, the international security conference is currently being held in Munich, Germany. Leading world politicians, representatives of international organizations, as well as members of the public and scientific community are discussing the most pressing global issues of our time.

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