Now the bill must be considered by the Senate and signed by the President of the United States.
The US House of Representatives has passed a bill that provides confiscation of assets of Russian sanctioned legal entities and individuals. The bill was published on the website of the US Congress.
The H.R. 6930, according to Reuters, supported 425 congressmen, against – no vote. It entitles the President of the United States to transfer to Ukraine any US-registered and confiscated property of sanctioned individuals and companies worth $ 5 million.
Ukraine will have the right to use this money for:
- humanitarian needs,
- refugee support,
- rebuilding war-torn infrastructure,
- purchasing weapons for all Ukrainian military formations.
For the bill to take effect, it must be approved by the Senate and signed by US President Joe Biden.
“It is a framework, does not establish a mechanism, but clearly lays down the political will of Congress and is the first and very important step towards the future confiscation of Russian assets in favor of Ukraine,” said Andriy Yermak, head of the Office of the President of Ukraine.
Read also: With the right approach, Ukraine will be able to confiscate Russian property abroad – Shabunin
Recall, confiscation and transfer of sanctioned assets to Ukraine is being considered in Canada . A similar initiative is being discussed in the European Union .
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