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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.
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Expired
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Additional Information
Print number: 118_S_4086
Sponsor: Sen. Daines, Steve [R-MT]
Process start date: 2024-04-09
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to authorize the confiscation and repurposing of blocked assets of the Central Bank of the Russian Federation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4086.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-04-09.

What are the main provisions?

Key points include:

  • 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.
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. Daines, Steve [R-MT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

CATEGORIES

Economy Security