Senate Bill Would Give Frozen Russian Assets to Ukraine
A bipartisan group of six senators introduced a bill Sept. 19 aimed at transferring about $300 billion in frozen Russian assets to Ukraine.
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The REPO for Ukrainians Implementation Act would seize $5 billion under U.S. jurisdiction and begin making it available to Ukraine in increments of at least $250 million every 90 days. It would direct the State Department to encourage U.S. allies, who have the rest of the money under their jurisdictions, to transfer increments of at least $15 billion to Ukraine every 90 days.
The bill’s sponsors are Sens. Jim Risch, R-Idaho, and Jeanne Shaheen, D-N.H., the chairman and ranking member, respectively, of the Senate Foreign Relations Committee, and Sens. Richard Blumenthal, D-Conn.; Lindsey Graham, R-S.C.; Chuck Grassley, R-Iowa; and Sheldon Whitehouse, D-R.I. Shaheen said the legislation, which was referred to the Foreign Relations Committee, would help Ukraine defend and rebuild itself.
Sen. John Kennedy, R-La., said Sept. 17 that he was drafting a similar bill (see 2509170059).