Prominvestbank money arrested in the US will be returned to Ukraine

This was reported by the Deposit Guarantee Fund for Individuals, Ukrinform reports.

“The Deposit Guarantee Fund has achieved the lifting of the arrest on Prominvestbank's funds in the United States in the amount of over 2 million US dollars and more than 36.6 million euros and confirmed that these funds belong to the state of Ukraine,” the statement said.

It is specified that on March 5, 2025, the US Court of Appeals for the Second Circuit of New York affirmed the decision of the District Court of New York of July 12, 2023, which ruled that these funds belong to Ukraine.

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The funds were identified during the liquidation of PJSC Prominvestbank in its correspondent account at the Bank of New York Mellon. In 2022, these funds were frozen by the US authorities due to the imposition of US sanctions on the bank as a subsidiary of the Russian VEB.RF.

In November 2022, several US citizens laid claim to the funds, claiming that they had suffered damages from the Taliban in Afghanistan in 2016. However, at the time of their appeal to the New York District Court, the bank was already owned by the state of Ukraine under the Law of Ukraine “On the Basic Principles of Compulsory Alienation of Property of the Russian Federation and Its Residents on the Territory of Ukraine.”

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“The unblocking of more than $2 million and almost €37 million of Prominvestbank is not just a legal success, but a contribution to the financial stability of the state. According to the decision of the National Security and Defense Council, these funds belong to the state of Ukraine, which the Fund successfully confirmed in court. At the moment, the main obstacles have been removed, and we can expect the transfer of these funds. After that, they will be sent to the state budget,” said Deputy Managing Director of the Fund Viktor Novikov.

As reported by Ukrinform, on March 20, the Deposit Guarantee Fund for Individuals intends to once again put up for sale the assets of JSC Bank Sich, including more than 1,000 square meters of warehouse space near one of the metro stations in Kyiv.