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Confiscation of Russian Assets to Offset US Costs for Ukraine Aid.

This bill authorizes the President to seize funds belonging to the Russian Federation that are subject to US jurisdiction. These confiscated assets must be deposited into the Treasury to offset the costs of emergency supplemental appropriations for assistance provided to Ukraine. The goal is to use seized foreign assets to fund foreign aid, potentially reducing the reliance on general taxpayer funds for these specific expenditures.
Key points
The President is authorized to confiscate funds belonging to the Government of the Russian Federation.
Confiscated assets will be used to cover the costs of US assistance provided to Ukraine.
All rights to the seized funds are transferred directly to the United States Government.
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Expired
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Additional Information
Print number: 118_S_536
Sponsor: Sen. Daines, Steve [R-MT]
Process start date: 2023-02-27
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to authorize the confiscation of assets of the Russian Federation and the use of such assets to offset costs to the United States of assistance to Ukraine.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_536.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-27.

What are the main provisions?

Key points include:

  • The President is authorized to confiscate funds belonging to the Government of the Russian Federation.
  • Confiscated assets will be used to cover the costs of US assistance provided to Ukraine.
  • All rights to the seized funds are transferred directly to the United States Government.
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 2025-12-30.

CATEGORIES

Economy Security