US Senate Committee approves law on confiscation of Russian assets for Ukraine's recovery
Kyiv • UNN
A U.S. Senate committee approves an unprecedented act that will allow the United States to confiscate Russian assets and use them to rebuild Ukraine.
A US Senate committee approved a law on Wednesday that would help the United States confiscate Russian assets and transfer them to Ukraine to help rebuild after the devastation, UNN reports.
The Senate Foreign Relations Committee voted 20 to 1 in favor of the unprecedented "Restoring Economic Prosperity and Opportunity for Ukrainians (REPO) Act.
If passed by the full Senate and House of Representatives and signed by President Joe Biden, the act is expected to pave the way for the first-ever seizure of assets from a central bank of a country with which Washington is not at war.
