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US authorities intend to start transferring forfeited Russian assets in favor of Ukraine

"The law doesn't provide a route for the transfer of all forfeited funds that might arise through these efforts. And importantly, forfeitures tied to export control violations are not currently included in that new provision," Andrew Adams said

WASHINGTON, January 19. /TASS/. US authorities intend to begin the transfer of forfeited Russian assets for the benefit of Ukraine in the near future, Director of the Task Force KleptoCapture of the Department of Justice Andrew Adams said on Thursday at a seminar in the Hudson Institute.

"In the future, we're also poised to begin the transfer of forfeited assets for the benefit of Ukraine," Adams said. "I want to highlight this as a relatively recent development," he added.

In late 2022, US President Joe Biden signed the Consolidated Appropriations Act 2023, including an initiative empowering the Justice Department to direct forfeited funds to the State Department for the purpose of providing aid to Ukraine, the official noted.

"The law doesn't provide a route for the transfer of all forfeited funds that might arise through these efforts. And importantly, forfeitures tied to export control violations are not currently included in that new provision," Adams said.

"It's not a silver bullet, but it is nevertheless something that makes me hopeful that we will start to see the first transfers from [the Department of Justice] to the State Department occurring in the coming weeks and months. As the first final orders of forfeiture are obtained with respect to certain assets," he added.

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