Confiscation of Russian Assets for Ukraine: New Possibilities under a Draft Law in the US Congress

The United States Congress may introduce new rules that would allow for the confiscation of Russian Federation assets and expand sanctions against Moscow in favor of Ukraine. Ukraine's Ambassador to the United States Oksana Markarova revealed the details of the draft law "The 21st Century Peace through Strength Act" published on April 17.

According to this bill, the US President will have the authority to confiscate Russian sovereign assets and transfer the corresponding funds to support Ukraine. The bill also provides for the possibility of coordinating this procedure with other countries that support US interests.

The law should be applied to individuals and legal entities subject to EU and UK sanctions, as well as to persons who violate human rights. The US President must submit a report to Congress and impose sanctions on each identified person.

In addition, the bill provides for other sanctions aimed at fighting crime and other domestic issues in the United States. It is planned to combine this document with other bills on international assistance to the United States.

A bill for military aid to Ukraine, which includes almost $61 billion and ATACMS missiles, has been unveiled by the US House of Representatives. It is expected to be signed by U.S. President Joe Biden after approval by the House and Senate.

In his statement, Biden emphasized the importance of supporting Ukraine and other allied countries. He promises to sign the bills immediately after they are approved to demonstrate support for US friends and to prevent Iran and Russia from making gains.