American and Ukrainian flags were waved in front of the US Congress in support of the decision on the $61 billion aid to Ukraine and the confiscation of Russian money.
Last night, the Lower House of Congress passed a law to confiscate Russian assets in American banks. How will the unprecedented confiscation proceed, reports the Telegram channel “MO”.
The REPO (Rebuilding Economic Prosperity and Opportunity) Freezing of Russian Assets Act provides the legal basis for the transfer of Russian state assets to Ukraine. This money will be used to rebuild the Ukrainian economy and compensate for the military damage inflicted by Moscow.
The confiscated funds are 6 billion. This is the full volume of Russian assets that are in American banks and have been frozen since the beginning of the war. The majority of Russian assets – about 300 billion dollars – are located in European banks (in Germany, France and Belgium)
The US President is authorized to confiscate Russian assets and transfer them to two funds: the Compensation Fund and the Ukraine Sustainment Fund.
The bill will enter into force after being voted on in the Senate. It is assumed that there the project will go without a problem. Senate Majority Leader Chuck Schumer took procedural steps to get the Senate to vote next week on the foreign aid package that was voted down by the House last night, CNN reported. The Senate is on recess next week, but senators will be back to vote on the bills.
Americanist Alexandra Filipenko commented to MO that the law contains a “brake for Trump”, even if he comes to power, “he will not be able to stop the transfer of money until Russia withdraws its troops from Ukraine. Including from Crimea”.
Kremlin spokesman Dmitry Peskov commented on the confiscation decision: “This will irreparably damage the image of the United States, as the inviolability of private property is violated.”
Tags: confiscated billion dollars Russia
