U.S. approves amendment to transfer seized Russian assets to Ukraine

Senator Lindsey Graham - Image GurganusImages/Shutterstock.com

The U.S. Senate has overwhelmingly approved an amendment to the sanctions bill that allows the Department of Justice to transfer the assets of Russian oligarchs that have been seized, to the people of Ukraine.

Speaking late on Friday, December 22 U.S. Senator Lindsey Graham said: “This amendment would allow the Department of Justice through the Secretary of State to transfer proceeds from seized oligarchs’ assets or other sanctioned entities to the people of Ukraine.

“It will be a godsend to the long-suffering people of Ukraine. It will be a relief to the American taxpayer…

“It will be a bad day for oligarchs.”

The amendment was put forward as punishment for those oligarchs who the Senate believes need to be held accountable for their role in Russia’s invasion of Ukraine.

Canada recently moved to seize the assets of Roman Abramovich, the one-time owner of Chelsea Football Club, and to use these to aid the people of Ukraine. The amendment passed by the Senate will allow the U.S. to do the same.

Canadian Finance Minister Chrystia Freeland said Russian oligarchs have been involved in the “illegal and barbaric invasion of Ukraine.”

Adding that Canada “will not be a haven for their ill-gotten gains.”

It is thought that the value of what has been seized in Canada is significantly lower than that in the U.S.

The U.S. approved the amendment on the same day that Ukraine Prime Minister Volodymyr Zelensky made his first to the U.S. to discuss the war, aid and how to bring about peace in the region. It also follows possibly the first statement by Russian President Vladimir Putin that Russia is engaged in a war and that he wanted peace.

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Peter McLaren-Kennedy

Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]