“The document offers US President President to redirect at least $ 250 million income from assets in favor of Ukraine every 90 days”, – WRITE: www.radiosvoboda.org
The two -party group of senators, which includes Jean Shagin, Sheldon Waithous, Jim Rish, Chuck Gressl, Richard Blumental and Lindsey Graham, proposed changes in the Repo Law on the Restoration of Ukraine “in order to improve the realization of confiscation of Russian sovereign assets in favor of Ukraine and other purposes. The Repo Law, which is the basis for the initiative, was adopted in April 2024.
Democratic Shagin indicated that Russia’s war against Ukraine has caused “impressive destruction and loss of lives, and Putin should be held accountable.”
“The re -profiling of frozen sovereign assets of Russia is a necessary step to provide Ukraine with resources for defense and reconstruction of its communities. It is important that this approach allows us to continue to support Ukraine at no additional expenses for US taxpayers. This legislation demonstrates a firm two -party determination of Congress to support Ukraine. I urge the administration and our allies to continue these efforts to force Russia to pay the price for their aggression, ”she said.
According to Weithous, frozen Russian assets are the most suitable purpose for providing Ukraine with support required for its defense and reconstruction:
“Repo 2.0 will encourage the Trump Administration and our G7 allies to start withdrawing frozen Russian assets and distributing them to Ukraine according to the established schedule to increase the economic pressure on Putin.”
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The existence of a schedule of seizure of Russian assets will provide confidence in supporting Ukraine and responsibility for “sponsors of the ruthless regime of Putin”, said Blumental.
The Repo-2025 Law provides for:
- transfer of all frozen sovereign assets of Russia in the amount of about $ 5 billion under US jurisdiction, to the account with interest accrual
- Encouraging US President Donald Trump to redirect at least $ 250 million from this account in favor of Ukraine every 90 days
- Encouraging State Secretary together with the Minister of Finance to conduct an active diplomatic campaign to persuade US allies to start transferring to at least $ 5% (approximately $ 15 billion) Russian sovereign assets in favor of Ukraine every 90 days
More than 260 billion euros of assets of Russia have been blocked from the beginning of the full-scale Russian-Ukrainian war since the beginning of the full-scale Russian-Ukrainian war. Most assets (about 190 billion euros) are stored in the Belgian Depository of EuroClear. EU countries have repeatedly discussed the possibility of confiscation of frozen assets of Russia, but the European Union has decided to use only profit from frozen assets to help Ukraine.
In the Kremlin, the West’s plans to confiscate Russian assets were called encroachment on state and private property, as well as illegal actions.
