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Seizing Russian Assets for Ukraine Reconstruction and Compensation Fund.

This law authorizes the President to designate Russia as an "Aggressor State" and Belarus as an "Affiliated Aggressor State." The key change is the power to block, seize, and transfer the sovereign assets of these states located in the US to the US government. These funds will be used to establish an international or US fund dedicated to Ukraine's reconstruction and compensating affected Ukrainian individuals and entities.
Key points
The US will seize blocked sovereign assets of Russia and Belarus to fund Ukraine's reconstruction efforts.
International cooperation is mandated to establish a compensation tribunal for Ukrainians, paid for by the seized funds.
The Act sets a precedent for using frozen state assets for foreign policy goals and expires at the end of 2030.
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Expired
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Additional Information
Print number: 118_HR_5370
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2023-09-08
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Ukraine Reconstruction Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5370.

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 2023-09-08.

What are the main provisions?

Key points include:

  • The US will seize blocked sovereign assets of Russia and Belarus to fund Ukraine's reconstruction efforts.
  • International cooperation is mandated to establish a compensation tribunal for Ukrainians, paid for by the seized funds.
  • The Act sets a precedent for using frozen state assets for foreign policy goals and expires at the end of 2030.
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. Hill, J. French [R-AR-2].

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 2025-12-30.

CATEGORIES

Economy Security Courts and Law