News

The US has for the first time transferred seized assets from a sanctions-hit Russian oligarch to send to Ukraine for the reconstruction of the war-ravaged country.

The authorisation came on Wednesday from attorney-general Merrick Garland, who said additional moves of this kind would be forthcoming. “While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” he said in a statement.

The move comes amid a growing debate among Ukraine’s allies in the west and around the world about the extent to which seized Russian assets can be used to fund a massive reconstruction effort that is expected to kick into high gear if and when the conflict ends.

Read more about sanctions against Russia here.

Articles You May Like

Stocks lower in muted trading as investors eye corporate earnings, tariff update
Theaters plead with audiences to end chaos during popular new film
Watch: Why Insurance Companies Are Denying Coverage for Prosthetic Limbs
McDonald’s teases return of once-popular menu item and fans can’t wait
Casino powerhouse who helped shape the Vegas Strip dies at 82