I 

118TH CONGRESS 

1ST SESSION H. R. 5925 

To authorize the seizure of the property of certain sanctioned individuals 

for purposes of covering expenses relating to the Ukraine-Russia conflict, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 11, 2023 

Mr. MCCORMICK introduced the following bill 

OCTOBER 25, 2023 

Referred to the Committee on Foreign Affairs 

A BILL 

To authorize the seizure of the property of certain sanctioned 

individuals for purposes of covering expenses relating 

to the Ukraine-Russia conflict, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Make Putin Pay Act’’. 

5 SEC. 2. FINDINGS. 

6 Congress finds the following: 

7 (1) On February 24th, 2022, Russian dictator 

8 Vladimir Putin launched an illegal, inhumane invaVerDate Sep 11 2014 23:43 Nov 02, 2023 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H5925.IH H5925

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1 sion of Ukraine in clear violation of international 

2 law. 

3 (2) If Putin’s illegal invasion were to have been 

4 successful, it would be devastating to the post-Cold 

5 War world and encourage other totalitarian nations 

6 such as China and Iran to act more aggressively. 

7 (3) United States support for Ukraine has been 

8 crucial in deterring Russian aggression. As of July 

9 of 2023, the Russian military has lost over 200,000 

10 military personnel, more than 1,200 cruise missiles, 

11 over 7,000 vehicles and fuel tanks, and more than 

12 4,000 tanks. 

13 (4) Since the beginning of the Russian invasion, 

14 the United States support to Ukraine has totaled 

15 over $113,000,000,000. 

16 (5) The United States and allies have seized ap17 proximately $330,000,000,000 in funds related to 

18 Russian oligarchs or the Moscow bank. Any of these 

19 assets subject to the jurisdiction of the United 

20 States Government should be seized and used to re21 imburse the United States, pay for additional equip22 ment and humanitarian assistance given to Ukraine 

23 and pay for reconstruction efforts after the conclu24 sion of the war. 


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1 (6) Resolution 486 adopted by the NATO Par2 liamentary Assembly on Monday, October 9th, 2023, 

3 urges governments ‘‘to ensure that Russia is held 

4 accountable for its crime of aggression its war 

5 crimes including crimes against humanity and re6 ported acts of genocide committed in Ukraine, and 

7 the horrific and unjustified damages it has wrought, 

8 and that it helps fund reconstruction, in part, 

9 through seized and frozen Russian assets as much 

10 as it is possible under the law, and encourages all 

11 states to develop such a framework.’’. 

12 (7) For the survival of Western civilization, the 

13 United States must continue to face authoritarian 

14 regimes head-on. The United States must continue 

15 to support Ukraine in a responsible and effective 

16 manner. 

17 SEC. 3. AUTHORIZATION FOR SEIZURE OF ASSETS. 

18 (a) IN GENERAL.—Notwithstanding any other provi19 sion of law, the President, acting through the Secretary 

20 of the Treasury, is authorized to seize and confiscate all 

21 assets subject to the jurisdiction of the United States that 

22 are— 

23 (1) blocked pursuant to sanctions imposed with 

24 respect to foreign persons that derive wealth through 


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1 political support for or corruption linked to Russian 

2 President Vladimir Putin; or 

3 (2) sovereign assets of the Government of the 

4 Russian Federation or owned by the Central Bank 

5 of such country. 

6 (b) DISPOSITION OF PROCEEDS FROM SALE OF AS7 SETS.—The proceeds from the sale of any asset seized or 

8 confiscated pursuant to the authority provided by sub9 section (a) before the date described in subsection (c)(1)— 

10 (1) shall first be made available, without subse11 quent appropriation, to reimburse the United States 

12 for expenses incurred during the period beginning on 

13 February 24, 2022, in connection with the Ukraine14 Russia conflict; and 

15 (2) to the extent such proceeds exceed the total 

16 expenses described in paragraph (1), are authorized 

17 to be made available, only for expenses incurred on 

18 or after such date of enactment in connection with 

19 such conflict. 

20 (c) REPORT.—Not later than 180 days after the date 

21 of the enactment of this Act, and every 180 days there22 after, the Secretary of the Treasury shall submit to the 

23 Committee on Foreign Affairs of the House of Representa24 tives and the Committee on Foreign Relations of the Sen25 ate a report that specifies the amount remaining of the 


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1 proceeds described in subsection (b) as of the date of the 

2 submission of the report and itemizes each expenditure of 

3 such proceeds as of such date of submission. 

4 (d) RULE OF CONSTRUCTION.—Nothing in this Act 

5 may be construed to authorize the imposition of sanctions 

6 or to alter or affect any existing authority to impose sanc7 tions that is in effect on the date of the enactment of this 

8 Act. 

Æ 


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