OF THE
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"With my authorization today, forfeited funds will next be transferred to the State Department to support the people of Ukraine."Garland added that the funds were confiscated following an indictment against Malofeyev, issued last April.
The United States has already been working with allies and partners to track down assets all over the world:
- In March, the U.S., led by the Department of the Treasury and Department of Justice, launched the Russian Elites, Proxies, and Oligarchs Task Force with international partners to coordinate the freezing and seizing of Russian assets around the world.
- So far, member states in the European Union have reported freezing over $30 billion in assets, including almost $7 billion in boats, helicopters, real estate, and artwork.
- Dozens of yachts have been seized by REPO Task Force member countries. The U.S. Treasury has sanctioned and blocked vessels and aircraft worth over $1 billion, as well as frozen hundreds of millions of dollars of assets belonging to Russian elites in U.S. bank accounts.
- Last week, in the wake of criminal charges, Treasury designated a global sanctions evasion network associated with Konstantin Malofeyev, crack downing on the movement of illicit assets.
- Earlier this month, the Department of Justice announced that Spain seized a 255-foot, $90 million yacht of sanctioned Russian Oligarch Viktor Vekselberg at the request of United States.

Comment: Regardless of whether the debt ceiling gets raised on time - and it usually does - with soaring inflation, most Western economies are already in recession, and the outlook is unsurprisingly bleak: