I 

117TH CONGRESS 

2D SESSION H. R. 7086 

To amend section 981 of title 18, United States Code, to subject property 

attributable to certain sanctioned individuals to forfeiture to the United 

States. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 15, 2022 

Mr. COHEN (for himself, Mr. WILSON of South Carolina, Mr. MALINOWSKI, 

and Ms. SALAZAR) introduced the following bill; which was referred to 

the Committee on the Judiciary, and in addition to the Committee on 

Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend section 981 of title 18, United States Code, to 

subject property attributable to certain sanctioned individuals to forfeiture to the United States. 

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 ‘‘Oligarch Asset For5 feiture Act’’. 


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1 SEC. 2. FORFEITURE OF ASSETS. 

2 Section 981(a)(1)(G) of title 18, United States Code, 

3 is amended— 

4 (1) in clause (iii) by striking ‘‘or’’ at the end; 

5 (2) in clause (iv) by striking the period at the 

6 end and inserting ‘‘; or’’; and 

7 (3) by adding at the end the following: 

8 ‘‘(v) of any foreign individual or entity 

9 beneficially owned by, or attributed to, a foreign 

10 individual sanctioned under Executive Order 

11 14024 (86 Fed. Reg. 20249; relating to block12 ing property with respect to specified harmful 

13 foreign activities of the Government of the Rus14 sian Federation), Executive Order 13661 (79 

15 Fed. Reg. 15535; relating to blocking property 

16 of additional persons contributing to the situa17 tion in Ukraine), Executive Order 13662 (79 

18 Fed. Reg. 16169; relating to blocking property 

19 of additional persons contributing to the situa20 tion in Ukraine), section 222 of the Countering 

21 America’s Adversaries Through Sanctions Act 

22 (22 U.S.C. 9522), or the Sergei Magnitsky 

23 Rule of Law Accountability Act of 2012 (22 

24 U.S.C. 5811 note).’’. 

25 SEC. 3. EXPIRATION AND USE OF ASSETS. 

26 (a) EXPIRATION.— 


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1 (1) CERTIFICATION.—The President shall sub2 mit to Congress a certification indicating when the 

3 war of aggression initiated by the Russian Federa4 tion in February 2022 against Ukraine has con5 cluded, as determined by the President. 

6 (2) SUNSET.—Effective on the date on which 

7 the President submits the certification described in 

8 paragraph (1), section 981(a)(1)(G) of title 18, 

9 United States Code, is amended— 

10 (A) in clause (iii), by adding ‘‘or’’ at the 

11 end; 

12 (B) in clause (iv), by striking ‘‘; or’’ and 

13 inserting a period; and 

14 (C) by striking clause (v). 

15 (b) USE OF ASSETS.—The Federal Government— 

16 (1) may sell an asset seized under clause (v) of 

17 section 981(a)(1)(G) of title 18, United States Code; 

18 and 

19 (2) notwithstanding section 524(c)(4) of title 

20 28, United States Code, at the discretion of the 

21 President, may use the proceeds of the sale of an 

22 asset described in paragraph (1) of this subsection— 

23 (A) for humanitarian assistance for 

24 Ukrainian refugees; or 


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1 (B) for rebuilding Ukraine once hostilities 

2 have ceased. 

Æ 


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