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Confiscation of Russian Assets for Ukraine's Reconstruction and Sanctions Coordination

This Act authorizes the U.S. President to confiscate blocked Russian sovereign assets (primarily from the Central Bank) under U.S. jurisdiction. These funds will be deposited into a dedicated Ukraine Support Fund to be used for compensation, reconstruction, and humanitarian aid for Ukraine. The legislation aims to compel Russia to pay for war damages and strengthens international sanctions coordination, impacting global economic stability and U.S. foreign policy.
Key points
Asset Confiscation: The U.S. President is authorized to seize Russian sovereign assets in the U.S. and transfer them for the benefit of Ukraine.
Ukraine Support Fund: Establishment of a fund to use confiscated assets for Ukraine's reconstruction, humanitarian assistance, and compensation for damages.
International Coordination: The U.S. will seek to establish a coordinated international compensation mechanism (Common Ukraine Fund) with G7 and EU partners.
Genocide Recognition: The Senate condemns Russia's actions as acts of genocide against the Ukrainian people and calls for accountability.
Sanctions Prohibition: Blocked Russian assets cannot be released until Russia ceases hostilities and provides full compensation or participates in a compensation mechanism.
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Additional Information
Print number: 118_S_2003
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2023-06-15
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

REPO for Ukrainians Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2003.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-15.

What are the main provisions?

Key points include:

  • Asset Confiscation: The U.S. President is authorized to seize Russian sovereign assets in the U.S. and transfer them for the benefit of Ukraine.
  • Ukraine Support Fund: Establishment of a fund to use confiscated assets for Ukraine's reconstruction, humanitarian assistance, and compensation for damages.
  • International Coordination: The U.S. will seek to establish a coordinated international compensation mechanism (Common Ukraine Fund) with G7 and EU partners.
  • Genocide Recognition: The Senate condemns Russia's actions as acts of genocide against the Ukrainian people and calls for accountability.
  • Sanctions Prohibition: Blocked Russian assets cannot be released until Russia ceases hostilities and provides full compensation or participates in a compensation mechanism.
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 Sen. Risch, James E. [R-ID].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

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