The so-called repurchase law, which would allow Biden to confiscate frozen Russian assets in US banks and transfer them to a special fund for Ukraine, is part of a foreign aid package that has been stalled for months in the House of Representatives.
The US House of Representatives, at an extraordinary session on Saturday, adopted a bill on the confiscation of Russian assets in favor of Ukraine. This was reported by NBC News. According to the voting results, the initiative was supported by 360 congressmen, and another 58 were against it. Now the document will be sent to the Senate. The bill allows the Biden administration to confiscate billions of dollars in Russian assets held in US banks and transfer them to Ukraine for restoration.
More than $6 billion of the $300 billion of frozen Russian assets are held in US banks. Most of the $300 billion is in Germany, France and Belgium.
