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Russia Sanctions: Seizing Frozen Assets to Fund Ukraine Defense Support.

The Act imposes strict penalties on foreign financial institutions that support sanctioned Russian entities or the Russian energy sector. A key change mandates the US government to seize frozen assets belonging to the Russian Central Bank and state funds held in US financial institutions. These funds will be transferred to the Ukraine Support Fund, aiming to increase economic pressure on Russia and finance defense aid for Ukraine.
Key points
Prohibiting or imposing strict conditions on US accounts for foreign banks dealing with sanctioned Russian entities, including the energy sector.
The US government must seize and confiscate assets of the Russian Central Bank and state funds located within US financial institutions.
Seized Russian funds will be deposited into the Ukraine Support Fund to finance aid, including the purchase of defense articles for Ukraine.
Violations of these new regulations carry severe civil penalties and up to 20 years imprisonment for willful criminal offenses.
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Placed on Calendar
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4346
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2025-07-10
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PEACE Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4346.

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 2025-07-10.

What are the main provisions?

Key points include:

  • Prohibiting or imposing strict conditions on US accounts for foreign banks dealing with sanctioned Russian entities, including the energy sector.
  • The US government must seize and confiscate assets of the Russian Central Bank and state funds located within US financial institutions.
  • Seized Russian funds will be deposited into the Ukraine Support Fund to finance aid, including the purchase of defense articles for Ukraine.
  • Violations of these new regulations carry severe civil penalties and up to 20 years imprisonment for willful criminal offenses.
What is the specific legal status?

The current status is Placed on Calendar.

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. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 277.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Economy Security