US to confiscate $5.4 million from Russian oligarch, Ukraine may receive funds

U.S. prosecutors may seize $5.4 million from sanctioned Russian oligarch Konstantin Malofeyev and direct the funds towards rebuilding Ukraine.

Malofeyev, the owner of Tsargrad TV channel, has been accused of funding Russian proxies in Russian-occupied Crimea in 2014, Reuters reported on February 2.

In December 2022, the U.S. Senate approved an amendment allowing the transfer of seized assets belonging to Russian oligarchs to the people of Ukraine.

A civil forfeiture complaint against Malofeyev was first filed in the U.S. on Nov. 30, 2022, in a move to target individuals with close ties to Russian President Vladimir Putin.

The U.S. announced new sanctions against Russia on April 21, 2022, which targeted over 40 individuals and entities associated with sanctioned Russian businessman Konstantin Malofeyev, “including organizations whose primary mission is to facilitate sanctions evasion for Russian entities.”

Malofeyev was first sanctioned in 2014.