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Seizing Azerbaijani Assets to Compensate Artsakh Displaced Persons for Lost Revenue.

This Act mandates sanctions against Azerbaijan, requiring the US President to block and seize Azerbaijani sovereign assets held in the United States. These seized funds will establish the Artsakh Revenue Recovery Fund, designed to compensate Armenians forcibly displaced from Artsakh for lost income from jobs, businesses, and property. The law also includes visa restrictions for senior Azerbaijani officials and their immediate families.
Key points
The US government will seize Azerbaijani state assets in the US to create a compensation fund for displaced Armenians.
Displaced individuals residing in the US or Armenia can file claims for lost revenue from employment or property since September 2023.
Sanctions, including asset seizure and visa bans, will remain until a peace agreement is concluded and all verified compensation claims are fully paid.
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Additional Information
Print number: 118_HR_9666
Sponsor: Rep. Schiff, Adam B. [D-CA-28]
Process start date: 2024-09-18
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Artsakh Revenue Recovery Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9666.

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 2024-09-18.

What are the main provisions?

Key points include:

  • The US government will seize Azerbaijani state assets in the US to create a compensation fund for displaced Armenians.
  • Displaced individuals residing in the US or Armenia can file claims for lost revenue from employment or property since September 2023.
  • Sanctions, including asset seizure and visa bans, will remain until a peace agreement is concluded and all verified compensation claims are fully paid.
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. Schiff, Adam B. [D-CA-28].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Economy Migration