• 17/04/2024 12:48

White House supported the confiscation of assets of the Russian Federation for transfer to Ukraine. Congress looks at the bill

The administration of US President Joe Biden promoted legislation that would allow the confiscation of nearly 300 billion dollars from frozen Russian assets and send these funds to the government of Ukraine.

This is reported by RBC-Ukraine via Bloomberg.

The memorandum for the sake of national security has been received by the Senate Committee on International Affairs (NSC), what The bill will give the crown government new provisions necessary for the confiscation of Russian sovereign assets for the benefit of Ukraine.

It appears that the White House wants to please the entire time with its allies from the “Great Family” (G7), located in Europe, where close to 200 billion dollars of frozen assets of the Russian Federation are saved.

“At once “With our G-7 partners, we are pursuing all options consistent with our respective legal systems and international law to help Ukraine refuse compensation from Russia,” the statement to the US Department of State reads.

The authors of the “Law to Renew Economic Prosperity and Opportunity for Ukrainians” are Congressmen Jim Rish and Sheldon Whitehouse.

“The Senate has broad bipartisan support for this drive. After the end of negotiations, the time has come for the committee to look at the legislation,” said Rish.

It is confirmed that Democrats and Republicans in the committee will disagree in two key parts of the bill. The law calls for Biden to coordinate with the G-7 to seize assets rather than require their seizure, which could allow the US to enter into unilateral action.

It is also necessary to place formulations aimed at those so that Russia does not disgrace the confiscation in the courts of the United States, which could potentially have an impact on constitutional movements.

From the notes, what PHIs are familiar with , The White House was initially ambivalent before the introduction of the G-7 force, and later voiced the need to work together with allies.

“This can make it more likely that Europe (where most of its assets have been disbursed) will want to invest for the time being, but they are concerned that the implementation of such actions in the context of the Russian Federation may increase their losses The irony of the fact that we are confiscating assets in other countries,” goes to one of the NSC reports.

Transfer of Russian assets to Ukraine

After the start of a large-scale war between Russia and Ukraine, the assets of the occupiers were frozen.

Earlier it became clear that the United States was urging the “Great Family” countries to confiscate 300 billion dollars of frozen Russian assets for the benefit of Ukraine. The main plan is to wait until the other river of Russia's invasion to Ukraine.

Prime Minister Denis Shmigal announced today that our partners are closer to the highest level of power.

“Already є first precedents for changes to legislation that affect the mechanisms of transfer of funds. It is still important to integrate into a single clear system until the countries of the EU and G7 will be obtained,” he said.

Terms Read important information about the war between Russia and Ukraine on the RBC-Ukraine Telegram channel.

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