US Congress supports bill to transfer frozen Russian assets to Ukraine

The US House of Representatives Committee on Foreign Affairs has supported a bill to use confiscated Russian assets to help Ukraine.

Source: European Pravda with reference to the decision during the hearing regarding the bill

Details: The document authorises the US Secretary of State to provide additional assistance to Ukraine using assets confiscated from the Russian Central Bank and other sovereign assets of the Russian Federation.

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According to the bill, within 180 days of the law’s enactment, the Secretary of State must provide the relevant congressional committees with an assessment of Ukraine’s most urgent recovery, security and humanitarian needs.

The document also prohibits the return of funds to sanctioned Russian entities until Russia withdraws from Ukraine and agrees to pay compensation.

The bill is now to be considered by the US Congress.

Background: Ukraine’s Foreign Minister Dmytro Kuleba said that the European Union is close to a decision on a common legal mechanism for using frozen Russian assets for the benefit of Ukraine.

At the same time, on Tuesday, the Constitutional Commission of the Estonian Parliament approved a bill prepared by the government that would allow the frozen Russian assets to be used to rebuild Ukraine.

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