Using Frozen Russian Central Bank Assets for Ukraine Reconstruction.
This bill directs the President to seek an international agreement with allied nations to use frozen assets of the Russian Central Bank. The goal is to consolidate these funds and dedicate them entirely to financing the reconstruction of Ukraine once hostilities cease. US citizens and businesses must comply with new regulations regarding these assets, as violations carry severe financial penalties.
Key points
The President must pursue an agreement to transfer frozen Russian Central Bank assets to a single account for Ukraine's reconstruction.
These funds will be used to cover the total costs of damages resulting from Russia's invasion, after the war ends.
Violations of related regulations or orders are subject to significant financial penalties under existing emergency powers law.
Status:
Expired
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