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Using Frozen Russian Assets for Ukraine's Reconstruction

This bill aims to use frozen Russian Central Bank assets to fund Ukraine's reconstruction after hostilities cease. Citizens may feel an indirect impact through strengthened international stability and support for conflict victims, contributing to global security and legal order.
Key points
The U.S. President is directed to seek an agreement with other countries to transfer frozen Russian assets for Ukraine's reconstruction.
These funds are to be consolidated in a single account at an international financial institution and used after hostilities end.
The act includes penalties for violations, with funds from these penalties also potentially used for Ukraine's reconstruction.
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Expired
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No votes cast
Additional Information
Print number: 117_HR_7724
Sponsor: Rep. Morelle, Joseph D. [D-NY-25]
Process start date: 2022-05-11
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RUSSIA Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7724.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-05-11.

What are the main provisions?

Key points include:

  • The U.S. President is directed to seek an agreement with other countries to transfer frozen Russian assets for Ukraine's reconstruction.
  • These funds are to be consolidated in a single account at an international financial institution and used after hostilities end.
  • The act includes penalties for violations, with funds from these penalties also potentially used for Ukraine's reconstruction.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Morelle, Joseph D. [D-NY-25].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Foreign Affairs.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Security Public Investments