US seizes $500 million in Russian-linked assets

US Deputy Prosecutor-General Lisa Monaco has said that the country has seized more than $500 million worth of assets of "Russian oligarchs" and Russian-affiliated individuals circumventing sanctions since the conflict in Ukraine began.

"We have seized more than $500 million worth of assets of Russian oligarchs and others who support the Russian regime and evade US economic countermeasures," Monaco said, speaking at a G7 ministerial meeting in Japan, Kommersant reports.

According to the deputy attorney general, the seizure of assets was handled by a DOJ task force known as KleptoCapture. It was set up in March 2022 to comply with imposing sanctions against Russia in response to the entry of troops into Ukraine.

Monaco also reported that the group has charged more than 30 individuals with sanctions evasion offences since February 2022. At KleptoCapture's request, the defendants have been extradited to the US from more than six countries, the deputy attorney general added.

KleptoCapture head Andrew Adam spoke of plans to use some of the Russian assets seized by the task force to benefit Ukraine. Assets of the Bank of Russia have also been seized in the US. The USA may also hand them over to Ukraine.