The US Congress Committee supported the bill on the transfer of Russian assets to Ukraine
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The Foreign Affairs Committee of the US House of Representatives approved a bill giving the country’s president the right to confiscate Russian sovereign assets under US jurisdiction. Congressmen approved the bill with a result of 40 votes in favor and 2 against.
This bill would give the Secretary of State the authority to use confiscated assets from the Central Bank of the Russian Federation and other Russian foreign assets to provide additional assistance to Ukraine. The confiscation process will be carried out by the American president, and the confiscated funds will be placed in a special “Ukraine support fund.”
Ownership and income from confiscated Russian sovereign assets will remain with the United States as long as they are held in the Ukraine support fund. Funds from this fund will be used by the Secretary of State for the purpose of compensating Ukraine for damages, including reconstruction, rehabilitation, humanitarian assistance and other purposes.
The bill also establishes the obligation of the Secretary of State to notify the appropriate congressional committees at least 15 days before the release of funds from the Ukraine support fund to the government of Ukraine, other persons or international organizations.
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