WASHINGTON, July 23. /TASS/. US President Joe Biden delegated to the secretaries of the treasury and the state some of his authority under the legislation that provides for the confiscation of frozen Russian assets, the White House said in a statement.

According to the statement, Treasury Secretary Janet Yellen and US Secretary of State Antony Blinken were given the functions related to confiscation of frozen Russian assets in favor of Ukraine.

Biden signed bills in April that would allow the US to seize frozen Russian assets and provide further military aid to Ukraine, Israel and Taiwan.

Russian Foreign Ministry Spokeswoma Maria Zakharova said Moscow will immediately take retaliatory steps if the West confiscates Russian assets. She described the West’s intentions to use the proceeds from frozen Russian assets in favor of Ukraine as cynical and criminal.