The bill on the confiscation of Russian assets was simultaneously registered in both the Senate and the House of Representatives.
The US Congress has again registered a bill on the confiscation of sovereign assets of the Russian Federation to compensate for the damage caused by the war against Ukraine. On Thursday, June 15, the Voice of America reports.
According to the bill’s co-author, Republican Jim Rish, this is a way to rebuild Ukraine using Russian assets, thereby reducing the burden on US taxpayers, as well as “showing our allies that this is possible.”
It was noted that if passed, the law would give the US President permission and authority to confiscate Russian fixed assets within the United States and facilitate the rapid transfer of these funds to Ukraine. The text of the bill also states that, according to international law, the use of Russian assets to compensate for damage to Ukraine is a legal and appropriate remedy.
The bill is intended to achieve the following main goals, the lawmakers explained:
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Gives the President of the United States the authority to confiscate Russian sovereign assets frozen in the United States and transfer them to aid and restore Ukraine
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Prohibits the transfer of funds to Russian entities under sanctions until Russia withdraws from Ukraine and agrees to pay damages caused by the unprovoked war
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Directs the President of the United States to work with allies and partners to establish a global compensation mechanism to transfer confiscated or frozen Russian sovereign assets to help Ukraine
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Gives the State Department’s Office of Sanctions Coordination additional resources to work with partners and allies abroad to confiscate additional assets of Russian sovereigns in other countries
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Ensures that Putin, and not US taxpayers, will foot the bill for damages caused by Russia’s unprovoked invasion of Ukraine.
The document was simultaneously registered in the Senate and the House of Representatives.
The Ministry of Justice of Ukraine, commenting on this bill, said that the ice was broken.
“There is no turning back, but a gradual and inevitable revenge by Russia for everything that has been caused,” said Deputy Minister of Justice Irina Mudraya. He added that the verdict from the world community has already been passed.
Recall that in December of last year, the US Senate voted for an amendment by Republican Senator Lindsey Graham, which provides for the arrest of the assets of Russian oligarchs and their subsequent transfer to Ukraine.
US congressmen demand the immediate transfer of Russian assets to Ukraine
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.