Ukraine seizes nearly $420 million in frozen assets linked with Russian oligarchs

Amid  brutal Russia Ukraine war in Eastern Europe, embattled Ukraine has recently seized nearly $420 million in frozen assets which have been linked with Russian oligarchs. According to Kyiv Independent, Ukrainian Prosecutor General's Office and nation's Bureau of Economic Security have confiscated “Hr 12.4 billion from Cypriot company accounts in Alfa-Bank whose Russian beneficiaries tried to circumvent sanctions.” 

Furrmore, this development came after Ukrainian Parliament h enacted a law that makes it easier to seize Russians' assets who are subject to or nations' sanctions. Earlier in month of April, Ukrainian President Volodymyr Zelenskyy's Servent of People party noted that process for confiscating assets of sanctioned Russians has been sood by deputies as Ukraine's parliament, Verkhovna Ra, approved bill No. 7194, which introduces a new method for sanctions against Russian citizens, as per media reports.  

In retaliation to Russia's war on Ukraine, United States, European Union, United Kingdom, and or nations have sanctioned a number of Russian people. According to local media, bill is designed to make it easier to take any assets, property, enterprises, and real estate possessed by Russian nationals who are subject to penalties and deliver m to Ukraine to aid country's economy, pay conflict victims, and support government. 

Sanctions against Russia

On May 4, European Commission recommended sixth package of Ukraine war sanctions, which included a restriction on Russian oil imports. As part of sixth package of sanctions on Russia, President of European Commission Ursula von der Leyen ordered EU member nations to reduce crude oil imports over next six months and refined goods imports by end of year. According to media reports, Hungary and Slovakia are unlikely to opt sanctions against Russian fossil fuels, providing an obstacle to a unified EU response. 

Meanwhile, recently, Kremlin has warned that Ukraine joining North Atlantic Treaty Organization (NATO) might le to a territorial clash between Russia and bloc. According to a Sputnik report, Kremlin spokesman Dmitry Peskov stated, "Unlike Ukraine, Finland and Sweden have no territorial disputes with Russia." His remarks follow official announcement by two Scandinavian nations that y will join intergovernmental military alliance. Russia will be observing process attentively, Kremlin spokesperson said, referring to Finland and Sweden's plans to join NATO. Peskov furr warned that this move necessitates a thorough analysis of consequences. 

(Image: AP)