Confiscation of Russian Central Bank Assets for Ukraine Aid.
This bill authorizes the U.S. President to confiscate blocked assets of the Central Bank of the Russian Federation that are under U.S. jurisdiction. These funds will be deposited into a new International Response Fund, designated solely for financing Ukraine's territorial defense or compensating U.S. agencies for previously supplied materials. While the act does not directly impact U.S. citizens' finances, it aims to bolster support for Ukraine by utilizing frozen Russian funds rather than new U.S. taxpayer money.
Key points
Authorizes the President to seize blocked funds belonging to the Central Bank of Russia within the U.S.
Establishes the International Response Fund to hold the confiscated assets.
Funds are designated for supporting Ukraine's territorial defense (military materials) or reimbursing U.S. agencies for prior aid.
The act explicitly prohibits using these funds to repay loans made to Ukraine by other countries.
Status:
Expired
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