We continue to investigate the process of confiscation ofRussian assets in Ukraine and around the world

Here is our selection of the most significant events of these days:

• Ukraine. The HACC confiscated the Moscow Exchange's stake in a Ukrainian company, including 2,978 shares worth UAH 2.978 million, which is 1.44% of all shares in the company. Moscow Exchange is effectively a monopolist in the Russian market for capital market services and products. Among the owners of the Moscow Exchange are the Central Bank of the Russian Federation (11.7%), the Sberbank of Russia (10%), and the state-owned VEB.RF (8.4%).
• The US is seeking new powers to transfer seized Russian assets to Ukraine. In December, Congress authorized the Justice Department to transfer assets confiscated from sanctioned Russian oligarchs to the State Department for the restoration of Ukraine. However, the authority applies only to assets confiscated in connection with violations of US sanctions under certain presidential decrees. As a result, Russian property worth millions of dollars was confiscated in violation of export controls, and other US economic countermeasures cannot be transferred.
• A businessman is arrested in the US for trading with Kurchenko. The US Department of Justice has arrested businessman John Unsalan for violating sanctions imposed in 2015 against Ukrainian oligarch Serhiy Kurchenko and two of his companies. Unsalan is charged with conspiracy to circumvent US sanctions, violation of the sanctions regime, and conspiracy to commit money laundering.
• Cyprus closes the bank accounts of Russians. Clients from Russia have begun to receive massive notifications of account closure by the largest bank in Cyprus, Bank of Cyprus. Accounts are being closed for tax residents of Russia, those who have income from sanctioned business in Russia, as well as holders of F-type residence permits, i.e. those who received them in connection with the purchase of real estate in the country. In addition, Russians staying in Cyprus on a tourist visa have been notified of the closure of their accounts.
• The assets of the Russian Centre for Science and Culture have been frozen in Finland. A debt collection agency in Finland has seized the land and real estate of the Russian Centre for Science and Culture in Helsinki because of EU sanctions imposed on Russia. According to the Helsingin Sanomat newspaper, the land in question belongs to the Russian government.
• Turkey explains why it is not imposing sanctions against Russia. On Thursday, Turkish Foreign Minister Mevlut Cavusoglu explained that Ankara would only consider national interests when imposing sanctions against Russia.

More information on the situation with the confiscation ofRussian assets can be found on our confiscation tracker, an interactive website that displays up-to-date information on the amounts, legislation, court decisions, and political positions of countries on confiscation.