Kremlin spokesman Dmitry Peskov waits to watch the Victory Day military parade at Red Square in central Moscow on May 9, 2022. (PHOTO / AFP)

MOSCOW – The Kremlin on Thursday criticized a decision by the United States to transfer to Ukraine the confiscated assets of Russian businessman Konstantin Malofeyev, saying it was illegal and would backfire on Washington.

US Attorney General Merrick Garland on Wednesday authorized millions of dollars worth of Malofeyev's confiscated assets to be sent for use in Ukraine, the first such instance of confiscated Russian money being used in such a way.

Kremlin spokesman Dmitry Peskov said the United States had "stolen" the money, and such decisions would "hit it like a boomerang"

ALSO READ: Russia: Washington, Ukraine behind drone attack on Kremlin

Asked about the case, Kremlin spokesman Dmitry Peskov said the United States had "stolen" the money, and such decisions would "hit it like a boomerang".

"This undermines the confidence of investors and owners of assets that are somehow connected with America, and this certainly cannot remain without consequences for the United States," he said.

Peskov said such steps demanded a response but did not say what action Russia might take. He said there was no possibility of contesting it via a lawsuit in the United States because "we do not have the opportunity to defend our rights in court".

The US Justice Department charged Malofeyev last year with violating sanctions imposed on Russia after its special military operation in Ukraine.

READ MORE: Kremlin warns of more asset seizures

Attorney General Garland said the case marked the first US transfer of forfeited Russian funds for the rebuilding of Ukraine, but it would not be the last.