REPO for Ukrainians Act

Bill: 118-s-2003
Sponsor: full_name: Sen. Risch, James E. [R-ID]
Introduced: 2023-06-15
Policy area: International Affairs
Subjects: Bank accounts, deposits, capital

Banking and financial institutions regulation

Congressional oversight

Europe

Government trust funds

Presidents and presidential powers, Vice Presidents

Russia

Sanctions

U.S. and foreign investments

Ukraine
Latest action: action_date: 2024-04-09
text: Committee on Banking, Housing, and Urban Affairs. Hearings held.

Summaries:
action_date: 2023-06-15
action_desc: Introduced in Senate
text: <p><b>Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act</b></p> <p>This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance).<br> <br> Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill. <br> <br> The Ukraine Support Fund shall be available to the Department of State only to compensate Ukraine for damages caused by the Russian invasion, including by providing funds to an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people. <br> <br> The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners. <br> <br> Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners. </p>

tv_txt: II Calendar No. 316 118th CONGRESS 2d Session S. 2003 IN THE SENATE OF THE UNITED STATES June 15, 2023 Mr. Risch (for himself, Mr. Whitehouse , Mr. Blumenthal , Mr. Wicker , Mr. Ricketts , Mr. Graham , Mr. Kelly , Mr. Manchin , Mrs. Britt , Mr. Fetterman , Mr. Grassley , Mr. Bennet , Mr. Braun , Mr. Welch , Mr. Hickenlooper , Mr. Scott of Florida , Mr. Young , Ms. Hirono , Ms. Cortez Masto , Mr. Cruz , Mr. Cornyn , Mrs. Shaheen , and Mr. Coons ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations January 30, 2024 Reported by Mr. Cardin , with an amendment Strike out all after the enacting clause and insert the part printed in italic A BILL To authorize the Secretary of State to provide additional assistance to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other sovereign assets of the Russian Federation, and for other purposes.

1. Short title; table of contents (a) Short title This Act may be cited as the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—Confiscation and Repurposing of Russian Sovereign Assets Sec. 101. Findings; sense of Congress. Sec. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine. Sec. 103. Prohibition on release of blocked Russian sovereign assets. Sec. 104. Authority to ensure compensation to Ukraine using confiscated Russian sovereign assets. Sec. 105. International agreement to use Russian sovereign assets to provide for the reconstruction of Ukraine. Sec. 106. Report on use of confiscated Russian sovereign assets for reconstruction. Sec. 107. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine. Sec. 108. Exception relating to importation of goods. Sec. 109. Definitions. TITLE II—Multilateral Sanctions Coordination Sec. 201. Statement of policy regarding coordination of multilateral sanctions with respect to the Russian Federation. Sec. 202. Assessment of impact of Ukraine-related sanctions on the economy of the Russian Federation. Sec. 203. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation. I Confiscation and Repurposing of Russian Sovereign Assets 101. Findings; sense of Congress (a) Findings Congress makes the following findings: (1) On February 24, 2022, the Government of the Russian Federation violated the sovereignty and territorial integrity of Ukraine by engaging in a premeditated, second illegal invasion of Ukraine. (2) The international community has condemned the illegal invasions of Ukraine by the Russian Federation, as well as the commission of war crimes by the Russian Federation, including through the deliberate targeting of civilians and civilian infrastructure and the commission of sexual violence. (3) The leaders of the G7 have called the Russian Federation’s unprovoked and completely unjustified attack on the democratic state of Ukraine a serious violation of international law and a grave breach of the United Nations Charter and all commitments Russia entered in the Helsinki Final Act and the Charter of Paris and its commitments in the Budapest Memorandum . (4) On March 2, 2022, the United Nations General Assembly adopted Resolution ES–11/1, entitled Aggression against Ukraine , by a vote of 141 to 5. That resolution deplore[d] in the strongest terms the aggression by the Russian Federation against Ukraine in violation of Article 2(4) of the [United Nations] Charter and demanded that the Russian Federation immediately cease its use of force against Ukraine and immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognized borders . (5) On March 16, 2022, the International Court of Justice issued provisional measures ordering the Russian Federation to immediately suspend the military operations that it commenced on 24 February 2022 in the territory of Ukraine . (6) On November 14, 2022, the United Nations General Assembly adopted a resolution— (A) recognizing that the Russian Federation must bear the legal consequences of all of its internationally wrongful acts, including making reparation for the injury, including any damage, caused by such acts; (B) recognizing the need for the establishment of an international mechanism for reparation for damage, loss, or injury caused by the Russian Federation in Ukraine; and (C) recommending creation of an international register of such damage, loss, or injury. (7) Under international law, a country that is responsible for an internationally wrongful act is under an obligation to compensate for the damage it has caused if such damage cannot be made good by restitution. The Russian Federation bears such responsibility to compensate Ukraine, and because of this grave breach of international law, all states are legally entitled to take countermeasures that are proportionate and aimed at inducing the Russian Federation to comply with its international obligations, including countermeasures that suspend ordinary international obligations to the Russian Federation, to help enforce the obligation of the Russian Federation to compensate Ukraine. (b) Sense of congress It is the sense of Congress that, having committed an act of aggression, as recognized by the United Nations General Assembly on March 2, 2022, the Russian Federation is to be considered as an aggressor state. The extreme illegal actions taken by the Russian Federation, including an act of aggression, present a unique situation, requiring and justifying the establishment of a legal authority to compensate victims of aggression by the Russian Federation in Ukraine. In this case, that authority is the authority of the United States Government and other countries to confiscate Russian sovereign assets in their respective jurisdictions to help enforce the obligation of the Russian Federation to compensate Ukraine. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine It is the sense of Congress that— (1) the Russian Federation bears responsibility for the financial burden of the reconstruction of Ukraine and for countless other costs associated with the illegal invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) the full cost of the Russian Federation’s unlawful war against Ukraine and the amount of money the Russian Federation must pay Ukraine should be assessed by an international body or mechanism charged with determining compensation and providing assistance to Ukraine; (3) the Russian Federation is now on notice of its opportunity to comply with its international obligations, including compensation, or, by agreement with the government of independent Ukraine, authorize an international body or mechanism to address those outstanding obligations with authority to make binding decisions on parties that comply in good faith; (4) the Russian Federation can, by negotiated agreement, participate in any international process to assess the full cost of the Russian Federation’s unlawful war against Ukraine and make funds available to compensate for damage, loss, and injury arising from its internationally wrongful acts in Ukraine, and if it fails to do so, the United States and other countries should explore other avenues for ensuring compensation to Ukraine, including confiscation and repurposing of assets of the Russian Federation; (5) the President should lead robust engagement on all bilateral and multilateral aspects of the response by the United States to efforts by the Russian Federation to undermine the sovereignty and territorial integrity of Ukraine, including on any policy coordination and alignment regarding the disposition of Russian sovereign assets in the context of compensation; (6) the confiscation and repurposing of Russian sovereign assets by the United States is in the vital national security interests of the United States and consistent with United States and international law; and (7) the United States should work with international allies and partners on the confiscation and repurposing of Russian sovereign assets as part of a coordinated, multilateral effort, including with G7 countries and other countries in which Russian sovereign assets are located. 103. Prohibition on release of blocked Russian sovereign assets (a) In general No Russian sovereign asset that is blocked or immobilized by the Department of the Treasury before the date specified in section 104(g) may be released or mobilized until the President certifies to the appropriate congressional committees that— (1) hostilities between the Russian Federation and Ukraine have ceased; and (2) (A) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; or (B) the Russian Federation is participating in a bona fide international mechanism that, by agreement, will discharge the obligations of the Russian Federation to compensate Ukraine for all amounts determined to be owed to Ukraine. (b) Notification Not later than 30 days before the release or mobilization of a Russian sovereign asset that previously had been blocked or immobilized by the Department of the Treasury, the President shall submit to the appropriate congressional committees— (1) a notification of the decision to release or mobilize the asset; and (2) a justification in writing for such release or mobilization. (c) Joint resolution of disapproval (1) In general No Russian sovereign asset that previously had been blocked or immobilized by the Department of the Treasury may be released or mobilized if, within 30 days of receipt of the notification and justification required under subsection (b), a joint resolution is enacted prohibiting the proposed release or mobilization. (2) Expedited procedures Any joint resolution described in paragraph (1) introduced in either House of Congress shall be considered in accordance with the provisions of section 601(b) of the International Security Assistance and Arms Export Control Act of 1976 ( Public Law 94–329 ; 90 Stat. 765), except that any such resolution shall be amendable. If such a joint resolution should be vetoed by the President, the time for debate in consideration of the veto message on such measure shall be limited to 20 hours in the Senate and in the House of Representatives shall be determined in accordance with the Rules of the House. (d) Cooperation on prohibition of release of certain Russian sovereign assets The President may take such action as may be necessary to seek to obtain an agreement or arrangement between the United States, Ukraine, and other countries that have blocked or immobilized Russian sovereign assets to prohibit such assets from being released or mobilized until an agreement has been reached that discharges the Russian Federation from further obligations to compensate Ukraine. 104. Authority to ensure compensation to Ukraine using confiscated Russian sovereign assets (a) Reporting on Russian assets (1) Notice required Not later than 30 days after the date of the enactment of this Act, the President shall, by means of such instructions or regulations as the President may prescribe, require any United States financial institution at which Russian sovereign assets are located, and that knows or should know of such assets, to provide notice of such assets, including relevant information required under section 501.603(b)(ii) of title 31, Code of Federal Regulations (or successor regulations), to the Secretary of the Treasury not later than 10 days after detection of such assets. (2) Report required (A) In general Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 3 years, the President shall submit to the appropriate congressional committees a report detailing the status of Russian sovereign assets subject to the jurisdiction of the United States. (B) Form The report required by subparagraph (A) shall be submitted in unclassified form, but may include a classified annex. (b) Confiscation (1) In general The President may confiscate any Russian sovereign assets subject to the jurisdiction of the United States. (2) Liquidation and deposit The President shall— (A) deposit any funds confiscated under paragraph (1) into the Ukraine Support Fund established under subsection (c); (B) liquidate or sell any other property confiscated under paragraph (1) and deposit the funds resulting from such liquidation or sale into the Ukraine Support Fund established under subsection (c); and (C) make all such funds available for the purposes described in subsection (d). (3) Method of confiscation The President shall confiscate Russian sovereign assets under paragraph (1) through instructions or licenses or in such other manner as the President determines appropriate. (4) Vesting All right, title, and interest in Russian sovereign assets confiscated under paragraph (1) shall vest, if necessary, in the Government of the United States while being held in the Ukraine Support Fund established under subsection (c). (c) Establishment of the Ukraine Support Fund (1) In general The President shall establish a non-interest-bearing account, to be known as the Ukraine Support Fund , to consist of the funds deposited into the account under subsection (b). (2) Use of funds The funds in the account established under paragraph (1) shall be available to be used only as specified in subsection (d). (d) Use of confiscated property (1) In general Subject to paragraph (2), funds in the Ukraine Support Fund shall be available to the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, for the purpose of compensating Ukraine for damages resulting from the unlawful invasion by the Russian Federation that began on February 24, 2022, including through, to the extent possible, the provision of such funds to an international body or mechanism charged with determining compensation and providing assistance to Ukraine, for purposes that include the following: (A) Reconstruction and rebuilding efforts in Ukraine. (B) To provide humanitarian assistance to the people of Ukraine. (C) Such other purposes as the Secretary determines directly and effectively support the recovery of Ukraine and the welfare of the people of Ukraine. (2) Notification (A) In general The Secretary of State shall notify the appropriate congressional committees not fewer than 15 days before providing any funds from the Ukraine Support Fund to the Government of Ukraine or to any other person or international organization for the purposes described in paragraph (1). (B) Elements A notification under subparagraph (A) with respect to the provision of funds to the Government of Ukraine shall specify— (i) the amount of funds to be provided; (ii) the purpose for which such funds are provided; and (iii) the recipient. (e) Judicial review (1) In general The confiscation of Russian sovereign assets under subsection (b)(1) shall not be subject to judicial review. (2) Rule of construction Nothing in this subsection shall be construed to limit any private individual or entity from asserting due process claims in United States courts. (f) Exception for United States obligations under Vienna Conventions The authorities provided by this section may not be exercised in a manner inconsistent with the obligations of the United States under— (1) the Convention on Diplomatic Relations, done at Vienna April 18, 1961, and entered into force April 24, 1964 (23 UST 3227); (2) the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force on March 19, 1967 (21 UST 77); (3) the Agreement Regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947 (TIAS 1676); or (4) any other international agreement governing the use of force and establishing rights under international humanitarian law. (g) Sunset The authority to confiscate, liquidate, and transfer Russian sovereign assets under this section shall terminate on the earlier of— (1) the date that is 5 years after the date of the enactment of this Act; or (2) the date that is 120 days after the date on which the President determines and certifies to the appropriate congressional committees that— (A) hostilities between the Russian Federation and Ukraine have ceased; and (B) (i) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; or (ii) the Russian Federation is participating in a bona fide international mechanism that, by agreement, will discharge the obligations of the Russian Federation to compensate Ukraine for all amounts determined to be owed to Ukraine. 105. International agreement to use Russian sovereign assets to provide for the reconstruction of Ukraine (a) In general The President shall take such action as the President determines necessary to seek to establish a common international compensation mechanism, in coordination with foreign partners including Ukraine, that shall include the establishment of an international fund to be known as the Common Ukraine Fund , that uses assets in the Ukraine Support Fund established under section 104(c) and contributions from foreign partners that have also confiscated Russian sovereign assets to allow for compensation for Ukraine, including by— (1) establishing a register of damage to serve as a record of evidence and for assessment of the full costs of damages to Ukraine resulting from the invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) establishing a mechanism for compensating Ukraine for damages resulting from that invasion; (3) ensuring distribution of those assets or the proceeds of those assets based on determinations under that mechanism; and (4) taking such other actions as may be necessary to carry out this section. (b) Authorization for deposit in the Common Ukraine Fund Upon the President reaching an agreement or arrangement to establish a common international compensation mechanism pursuant to subsection (a), the Secretary of State shall transfer funds from the Ukraine Support Fund established under section 104(c) to the Common Ukraine Fund established under subsection (a). (c) Notifications (1) Agreement or arrangement The President shall notify the appropriate congressional committees not later than 30 days before entering into any new bilateral or multilateral agreement or arrangement under subsection (a). (2) Transfer The President shall notify the appropriate congressional committees not later than 30 days before any transfer to the Common Ukraine Fund established under subsection (a). (d) Limitation on transfer of funds No funds may be transferred to the Common Ukraine Fund established under subsection (a) unless the President certifies to the appropriate congressional committees that— (1) the institution housing the Common Ukraine Fund has a plan to ensure transparency and accountability for all funds transferred to and from the Common Ukraine Fund; and (2) the President has transmitted the plan required under paragraph (1) to the appropriate congressional committees in writing. (e) Joint resolution of disapproval No funds may be transferred to the Common Ukraine Fund established under subsection (a) if, within 30 days of receipt of the notification required under subsection (c)(2), a joint resolution is enacted prohibiting the transfer. (f) Report Not later than 90 days after the date of the enactment of this Act, and not less frequently than every 90 days thereafter, the President shall submit to the appropriate congressional committees a report that includes the following: (1) An accounting of funds in the Common Ukraine Fund established under subsection (a). (2) Any information regarding the disposition of the Common Ukraine Fund that has been transmitted to the President by the institution housing the Common Ukraine Fund during the period covered by the report. (3) A description of United States multilateral and bilateral diplomatic engagement with allies and partners of the United States that also have immobilized Russian sovereign assets to allow for compensation for Ukraine during the period covered by the report. (4) An outline of steps taken to carry out this section during the period covered by the report. 106. Report on use of confiscated Russian sovereign assets for reconstruction Not later than 90 days after the date of the enactment of this Act, and every 90 days thereafter, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the appropriate congressional committees a report that contains— (1) the amount and source of Russian sovereign assets confiscated pursuant to subsection (b)(1) of section 104; (2) the amount and source of funds deposited into the Ukraine Support Fund under subsection (b)(2) of that section; and (3) a detailed description and accounting of how such funds were used to meet the purposes described in subsection (d) of that section. 107. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, shall submit to the appropriate congressional committees an assessment of the most pressing needs of Ukraine for reconstruction, rebuilding, security assistance, and humanitarian aid. (b) Elements The assessment required by subsection (a) shall include the following: (1) An estimate of the rebuilding and reconstruction needs of Ukraine, as of the date of the assessment, resulting from the unlawful invasion of Ukraine by the Russian Federation, including— (A) a description of the sources and methods for the estimate; and (B) an identification of the locations or regions in Ukraine with the most pressing needs. (2) An estimate of the humanitarian needs, as of the date of the assessment, of the people of Ukraine, including Ukrainians residing inside the internationally recognized borders of Ukraine or outside those borders, resulting from the unlawful invasion of Ukraine by the Russian Federation. (3) An assessment of the extent to which the needs described in paragraphs (1) and (2) have been met or funded, by any source, as of the date of the assessment. (4) A plan to engage in robust multilateral and bilateral diplomacy to ensure that allies and partners of the United States, particularly in the European Union as Ukraine seeks accession, increase their commitment to Ukraine’s reconstruction. (5) An identification of which such needs should be prioritized, including any assessment or request by the Government of Ukraine with respect to the prioritization of such needs. 108. Exception relating to importation of goods (a) In general The authorities and requirements under this title shall not include the authority or a requirement to impose sanctions on the importation of goods. (b) Good defined In this section, the term good means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data. 109. Definitions In this title: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (B) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. (2) Financial institution The term financial institution means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (M), or (Z) of section 5312(a)(2) of title 31, United States Code. (3) G 7 The term G7 means the countries that are member of the informal Group of 7, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. (4) Russian sovereign asset The term Russian sovereign asset means any of the following: (A) Funds and other property of— (i) the Central Bank of the Russian Federation; (ii) the Russian Direct Investment Fund; or (iii) the Ministry of Finance of the Russian Federation. (B) Any sovereign funds of the Russian Federation held in a financial institution that is wholly owned or controlled by the Government of the Russian Federation. (C) Any other funds or other property wholly owned or controlled by the Government of the Russian Federation, including by any subdivision, agency, or instrumentality of that government. (5) United States The term United States means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States. (6) United States financial institution The term United States financial institution means a financial institution organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an institution. II Multilateral Sanctions Coordination 201. Statement of policy regarding coordination of multilateral sanctions with respect to the Russian Federation (a) In general In response to the Russian Federation’s unprovoked and illegal invasion of Ukraine, it is the policy of the United States that— (1) the United States, along with the European Union, the G7, Australia, and other willing allies and partners of the United States, should lead a coordinated international sanctions regime to freeze sovereign assets of the Russian Federation; (2) the head of the Office of Sanctions Coordination of the Department of State should engage in interagency and multilateral coordination with agencies of the European Union, the G7, Australia, and other allies and partners of the United States to ensure the ongoing implementation and enforcement of sanctions with respect to the Russian Federation in response to its invasion of Ukraine; (3) the Secretary of State, in consultation with the Secretary of the Treasury, should, to the extent practicable and consistent with relevant United States law, lead and coordinate with the European Union, the G7, Australia, and other allies and partners of the United States with respect to enforcement of sanctions imposed with respect to the Russian Federation; (4) the United States should provide relevant technical assistance, implementation guidance, and support relating to enforcement and implementation of sanctions imposed with respect to the Russian Federation; (5) where appropriate, the head of the Office of Sanctions Coordination, in coordination with the Bureau of Economic and Business Affairs and the Bureau of European and Eurasian Affairs of the Department of State and the Department of the Treasury, should seek private sector input regarding sanctions policy with respect to the Russian Federation and the implementation of and compliance with such sanctions imposed with respect to the Russian Federation; and (6) the Secretary of State, in coordination with the Secretary of the Treasury, should continue robust diplomatic engagement with allies and partners of the United States, including the European Union, the G7, and Australia, to encourage such allies and partners to impose such sanctions. (b) Authorization of appropriations (1) In general There is authorized to be appropriated to the Office of Sanctions Coordination of the Department of State $15,000,000 for each of fiscal years 2024, 2025, and 2026 to carry out this section. (2) Supplement not supplant The amounts authorized to be appropriated by paragraph (1) shall supplement and not supplant other amounts authorized to be appropriated for the Office of Sanctions Coordination. 202. Assessment of impact of Ukraine-related sanctions on the economy of the Russian Federation (a) Report and briefings At the times specified in subsection (b), the President shall submit a report and provide a briefing to the appropriate congressional committees on the impact on the economy of the Russian Federation of sanctions imposed by the United States and other countries with respect to the Russian Federation in response to the unlawful invasion of Ukraine by the Russian Federation. (b) Timing The President shall— (1) submit a report and provide a briefing described in subsection (a) to the appropriate congressional committees not later than 90 days after the date of the enactment of this Act; and (2) submit to the appropriate congressional committees a report described in subsection (a) every 180 days thereafter until the date that is 5 years after such date of enactment. (c) Elements Each report required by this section shall include— (1) an assessment of— (A) the impacts of the sanctions described in subsection (a), disaggregated by major economic sector, including the energy, aerospace and defense, shipping, banking, and financial sectors; (B) the macroeconomic impact of those sanctions on Russian, European, and global economy market trends, including shifts in global markets as a result of those sanctions; and (C) efforts by other countries or actors and offshore financial providers to facilitate sanctions evasion by the Russian Federation or take advantage of gaps in international markets resulting from the international sanctions regime in place with respect to the Russian Federation; and (2) recommendations for further sanctions enforcement measures based on trends described in paragraph (1)(B). 203. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation Section 406(b) of the Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 ( 22 U.S.C. 2414a(b) ), is amended— (1) in paragraph (4), by striking Assembly on and all that follows through opposed by the United States and inserting the following: Assembly on— (A) resolutions specifically related to Israel that are opposed by the United States; and (B) resolutions specifically related to the invasion of Ukraine by the Russian Federation. ; (2) in paragraph (5), by striking ; and and inserting a semicolon; (3) by redesignating paragraph (6) as paragraph (7); and (4) by inserting after paragraph (5) the following: (6) an analysis and discussion, prepared in consultation with the Secretary of State, of the extent to which member countries supported United States policy objectives in the Security Council and the General Assembly with respect to the invasion of Ukraine by the Russian Federation; and .

1. Short title; table of contents (a) Short title This Act may be cited as the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Definitions. TITLE I—Seizure, transfer, confiscation, and repurposing of Russian sovereign assets Sec. 101. Findings; sense of Congress. Sec. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine. Sec. 103. Prohibition on lifting sanctions on immobilized Russian sovereign assets. Sec. 104. Authority to seize, confiscate, transfer, and vest Russian sovereign assets. Sec. 105. International mechanism to use Russian sovereign assets to provide for the reconstruction of Ukraine. Sec. 106. Report on use of Russian sovereign assets. Sec. 107. Report on immobilized assets of the Central Bank of the Russian Federation. Sec. 108. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine. Sec. 109. Exception relating to importation of goods. TITLE II—Multilateral coordination and countering malign activities of the Russian Federation Sec. 201. Statement of policy regarding multilateral coordination with respect to the Russian Federation. Sec. 202. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation. Sec. 203. Expansion of forfeited property available to remediate harms to Ukraine from Russian aggression. Sec. 204. Extensions. Sec. 205. Recognition of Russian actions in Ukraine as a genocide. 2. Definitions In this Act: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (B) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. (2) G7 The term G7 means the countries that are members of the informal Group of 7, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. (3) Russian sovereign asset The term Russian sovereign asset means funds and other property of— (A) the Central Bank of the Russian Federation; (B) the National Wealth Fund of the Russian Federation; or (C) the Ministry of Finance of the Russian Federation. (4) United States The term United States means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States. I Seizure, transfer, confiscation, and repurposing of Russian sovereign assets 101. Findings; sense of Congress (a) Findings Congress makes the following findings: (1) On February 20, 2014, the Government of the Russian Federation violated the sovereignty and territorial integrity of Ukraine by engaging in a pre-meditated and illegal invasion of Ukraine. (2) On February 24, 2022, the Government of the Russian Federation violated the sovereignty and territorial integrity of Ukraine by engaging in a pre-meditated, second illegal invasion of Ukraine. (3) The international community has condemned the illegal invasions of Ukraine by the Russian Federation, as well as the commission of war crimes by the Russian Federation, including through the deliberate targeting of civilians and civilian infrastructure, the commission of sexual violence, and the forced deportation of Ukrainian children. (4) The leaders of the G7 have called the Russian Federation’s unprovoked and completely unjustified attack on the democratic state of Ukraine a serious violation of international law and a grave breach of the United Nations Charter and all commitments Russia entered in the Helsinki Final Act and the Charter of Paris and its commitments in the Budapest Memorandum . (5) On March 2, 2022, the United Nations General Assembly adopted Resolution ES–11/1, entitled Aggression against Ukraine , by a vote of 141 to 5. That resolution deplore[d] in the strongest terms the aggression by the Russian Federation against Ukraine in violation of Article 2(4) of the [United Nations] Charter and demanded that the Russian Federation immediately cease its use of force against Ukraine and immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognized borders . (6) On March 16, 2022, the International Court of Justice issued provisional measures ordering the Russian Federation to immediately suspend the military operations that it commenced on 24 February 2022 in the territory of Ukraine . (7) The Russian Federation bears international legal responsibility for its aggression against Ukraine and, under international law, must cease its internationally wrongful acts. Because of this breach of the prohibition on aggression under international law, the United States is legally entitled to take countermeasures that are proportionate and aimed at inducing the Russian Federation to comply with its international obligations. (8) On November 14, 2022, the United Nations General Assembly adopted a resolution— (A) recognizing that the Russian Federation must bear the legal consequences of all of its internationally wrongful acts, including making reparation for the injury, including any damage, caused by such acts; (B) recognizing the need for the establishment of an international mechanism for reparation for damage, loss, or injury caused by the Russian Federation in or against Ukraine; and (C) recommending creation of an international register of such damage, loss, or injury. (9) Under international law, a country that is responsible for an internationally wrongful act is under an obligation to make full reparation for the injury caused. The Russian Federation bears such an obligation to compensate Ukraine. (10) Approximately $300,000,000,000 of Russian sovereign assets have been immobilized worldwide. Only a small fraction of those assets—1 to 2 percent, or between $4,000,000,000 and $5,000,000,000—are reportedly subject to the jurisdiction of the United States. (11) The vast majority of immobilized Russian sovereign assets, approximately $190,000,000,000, are reportedly subject to the jurisdiction of Belgium. The Government of Belgium has publicly indicated that any action by that Government regarding those assets would be predicated on support by the G7. (b) Sense of Congress It is the sense of Congress that, having committed an act of aggression, as recognized by the United Nations General Assembly on March 2, 2022, the Russian Federation is to be considered as an aggressor state. The internationally wrongful acts taken by the Russian Federation, including an act of aggression, present a unique situation justifying the establishment of a mechanism to compensate Ukraine and victims of aggression by the Russian Federation in Ukraine. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine It is the sense of Congress that— (1) the Russian Federation bears responsibility for the financial burden of the reconstruction of Ukraine and for countless other costs associated with the illegal invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) in the absence of a comprehensive peace agreement addressing the Russian Federation’s obligation to compensate Ukraine for the cost of the Russian Federation’s unlawful war against Ukraine, the amount of money the Russian Federation must pay Ukraine should be assessed by an international body or mechanism charged with determining compensation and providing assistance to Ukraine; (3) the Russian Federation is on notice of its opportunity to comply with its international obligations, including compensation, or, by agreement with the government of independent Ukraine, authorize an international body or mechanism to address those outstanding obligations with authority to make binding decisions on parties that comply in good faith; (4) the Russian Federation can, by negotiated agreement, participate in any international process to assess the full cost of the Russian Federation’s unlawful war against Ukraine and make funds available to compensate for damage, loss, and injury arising from its internationally wrongful acts in Ukraine, and if it fails to do so, the United States and other countries should explore other avenues for ensuring compensation to Ukraine, including confiscation and repurposing of assets of the Russian Federation; (5) the President should continue to lead robust engagement on all bilateral and multilateral aspects of the response by the United States to efforts by the Russian Federation to undermine the sovereignty and territorial integrity of Ukraine, including on any policy coordination and alignment regarding the disposition of Russian sovereign assets in the context of compensation; and (6) any effort by the United States to confiscate and repurpose Russian sovereign assets should be undertaken alongside international allies and partners as part of a coordinated, multilateral effort, including with G7 countries, the European Union, Australia, and other countries in which Russian sovereign assets are located. 103. Prohibition on lifting sanctions on immobilized Russian sovereign assets (a) In general Notwithstanding any other provision of law, no Russian sovereign asset that is blocked or immobilized by the Department of the Treasury pursuant to sanctions imposed before the date described in section 104(h) may be released or mobilized until the President certifies to the appropriate congressional committees in writing that— (1) the Russian Federation has reached an agreement relating to the respective withdrawal of Russian forces and cessation of military hostilities that is accepted by the free and independent Government of Ukraine; and (2) (A) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; or (B) the Russian Federation is participating in a bona fide international mechanism that, by agreement, will discharge the obligations of the Russian Federation to compensate Ukraine for all amounts determined to be owed to Ukraine. (b) Notification Not later than 30 days before the lifting of sanctions with respect to Russian sovereign assets as described in subsection (a), the President shall submit to the appropriate congressional committees— (1) a written notification of the decision to lift the sanctions; and (2) a justification in writing for lifting the sanctions. (c) Joint resolution of disapproval (1) In general Sanctions may not be lifted with respect to Russian sovereign assets as described in subsection (a) if, within 30 days of receipt of the notification and justification required under subsection (b), a joint resolution is enacted prohibiting the lifting of the sanctions. (2) Expedited procedures Any joint resolution described in paragraph (1) introduced in either House of Congress shall be considered in accordance with the provisions of section 601(b) of the International Security Assistance and Arms Export Control Act of 1976 ( Public Law 94–329 ; 90 Stat. 765), except that any such resolution shall be subject to germane amendments. If such a joint resolution should be vetoed by the President, the time for debate in consideration of the veto message on such measure shall be limited to 20 hours in the Senate and in the House of Representatives shall be determined in accordance with the Rules of the House. (d) Cooperation on prohibition of lifting sanctions on certain Russian sovereign assets The President may take such action as may be necessary to seek to obtain and enter into an agreement between the United States, Ukraine, and other countries that have blocked or immobilized Russian sovereign assets to prohibit such assets from being released or mobilized until there is an agreement that addresses the Russian Federation’s obligation to compensate Ukraine. 104. Authority to seize, confiscate, transfer, and vest Russian sovereign assets (a) Reporting on Russian sovereign assets (1) In general Not later than 180 days after the date of the enactment of this Act, and annually thereafter until the date described in subsection (h), the President shall submit to the appropriate congressional committees a report detailing the status of Russian sovereign assets subject to the jurisdiction of the United States, including the information with respect to such assets required to be included with respect to property in the reports required by Directive 4. (2) Continuation in effect of reporting requirements Any requirement to submit reports under Directive 4 shall remain in effect until the date described in subsection (h). (3) Form Each report required by paragraph (1) shall be submitted in unclassified form, but may include a classified annex. (4) Directive 4 defined In this subsection, the term Directive 4 means Directive 4 issued by the Office of Foreign Assets Control under Executive Order 14024 ( 50 U.S.C. 1701 note; relating to blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation), as in effect on the date of the enactment of this Act. (b) Seizure, transfer, vesting, and confiscation (1) In general On and after the date that is 30 days after the President submits to the appropriate congressional committees the certification described in subsection (c), the President may seize, confiscate, transfer, or vest any Russian sovereign assets, in whole or in part, and including any interest or interests in such assets, subject to the jurisdiction of the United States. (2) Vesting For funds confiscated under paragraph (1), all right, title, and interest in Russian sovereign assets shall vest in the Government of the United States. (3) Liquidation and deposit The President may— (A) deposit any funds seized, transferred, or confiscated under paragraph (1) into the Ukraine Support Fund established under subsection (d); (B) liquidate or sell any other property seized, transferred, or confiscated under paragraph (1) and deposit the funds resulting from such liquidation or sale into the Ukraine Support Fund; and (C) make all such funds available for the purposes described in subsection (e). (4) Method of seizure, transfer, or confiscation The President may seize, transfer, or confiscate Russian sovereign assets under paragraph (1) through instructions or licenses or in such other manner as the President determines appropriate. (c) Certification The certification described in this subsection, with respect to Russian sovereign assets, is a certification that— (1) seizing, confiscating, or transferring the Russian sovereign assets for the benefit of Ukraine is in the national interests of the United States; (2) either— (A) the Russian Federation has not ceased its unlawful aggression against Ukraine; or (B) the Russian Federation has not provided full compensation to Ukraine for harms resulting from Russian aggression; and (3) the President has meaningfully coordinated with G7 leaders to take multilateral action with regard to any seizure, confiscation, or transfer of Russian sovereign assets for the benefit of Ukraine. (d) Establishment of the Ukraine Support Fund (1) In general The President shall establish an account, to be known as the Ukraine Support Fund , to consist of funds deposited into the account under subsection (b). (2) Use of funds The funds in the account established under paragraph (1) shall be available to be used only as specified in subsection (e). (3) Supplement not supplant Amounts in the account established under paragraph (1) shall supplement and not supplant other amounts made available to provide assistance to Ukraine. (e) Use of assets (1) In general Subject to paragraphs (2), (3), and (4), funds in the Ukraine Support Fund shall be available to the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, to provide assistance to Ukraine to address damage resulting from the unlawful invasion by the Russian Federation that began on February 24, 2022, including through contributions to an international body or mechanism charged with determining compensation and providing assistance to Ukraine. (2) Coordination with foreign assistance funds (A) In general Funds in the Ukraine Support Fund may be transferred to, and merged with, funds made available to carry out any provision of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2151 et seq. ) to carry out the purposes of this section, except that funds from the Ukraine Support Fund shall remain available until expended. Any funds transferred pursuant to this subparagraph may be considered foreign assistance under the Foreign Assistance Act of 1961 for purposes of making available the administrative authorities in that Act. (B) Use for direct loans Notwithstanding section 504(b) of the Congressional Budget Act of 1974 ( 2 U.S.C. 661c(b) ), funds in the Ukraine Support Fund may be made available, subject to such terms and conditions as the Secretary of State deems necessary, for the principal for direct loans for Ukraine and costs, as defined in section 502 of the Congressional Budget Act of 1974 ( 2 U.S.C. 661a ), of such loans. (3) Notification (A) In general The Secretary of State shall notify the appropriate congressional committees not fewer than 15 days before providing any funds from the Ukraine Support Fund to the Government of Ukraine or to any other person or international organization for the purposes described in paragraph (1), other than funds authorized to be provided as assistance under section 491 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2292 ). (B) Elements A notification under subparagraph (A) with respect to the provision of funds to the Government of Ukraine shall specify— (i) the amount of funds to be provided; (ii) the purpose for which such funds are provided; and (iii) the recipient. (4) Prohibition of provision of funds to the russian federation or sanctioned persons Notwithstanding any other provision of law, funds from the Ukraine Support Fund may not under any circumstances be provided to— (A) the Government of the Russian Federation; (B) a foreign person with respect to which the United States has imposed sanctions; (C) a foreign person owned or controlled by— (i) the Government of the Russian Federation; (ii) a Russian person with respect to which the United States has imposed sanctions; or (D) any person in which the Government of the Russian Federation or a person described in subparagraph (B) has a direct or indirect interest; or (E) any person that may act in the interest of the Government of the Russian Federation. (f) Judicial review (1) Exclusiveness of remedy Notwithstanding any other provision of law, any action taken under this section shall not be subject to judicial review, except as provided in this subsection. (2) Limitations for filing claims A claim may only be brought with respect to an action under this section— (A) that alleges that the action will deny rights under the Constitution of the United States; and (B) if the claim is brought not later than 60 days after the date of such action. (3) Jurisdiction (A) In general A claim under paragraph (2) of this subsection shall be barred unless a complaint is filed prior to the expiration of such time limits in the United States District Court for the District of Columbia. (B) Appeal An appeal of an order of the United States District Court for the District of Columbia issued pursuant to a claim brought under this subsection shall be taken by a notice of appeal filed with the United States Court of Appeals for the District of Columbia Circuit not later than 10 days after the date on which the order is entered. (C) Expedited consideration It shall be the duty of the United States District Court for the District of Columbia and the United States Court of Appeals for the District of Columbia Circuit to advance on the docket and to expedite to the greatest possible extent the disposition of any claim brought under this subsection. (g) Exception for United States obligations under international agreements The authorities provided by this section may not be exercised in a manner inconsistent with the obligations of the United States under— (1) the Convention on Diplomatic Relations, done at Vienna April 18, 1961, and entered into force April 24, 1964 (23 UST 3227); (2) the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force on March 19, 1967 (21 UST 77); (3) the Agreement Regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947 (TIAS 1676); or (4) any other international agreement— (A) governing the use of force or establishing rights under international humanitarian law; and (B) to which the United States is a state party on the day before the date of the enactment of this Act. (h) Sunset The authority to seize, transfer, confiscate, or vest Russian sovereign assets under this section shall terminate on the earlier of— (1) the date that is 6 years after the date of the enactment of this Act; or (2) the date that is 120 days after the date on which the President determines and certifies to the appropriate congressional committees that— (A) the Russian Federation has reached an agreement relating to the respective withdrawal of Russian forces and cessation of military hostilities that is accepted by the free and independent Government of Ukraine; and (B) (i) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; (ii) the Russian Federation is participating in a bona fide international mechanism that, by agreement, addresses the obligations of the Russian Federation to compensate Ukraine; or (iii) the Russian Federation’s obligation to compensate Ukraine for the damage caused by the Russian Federation’s aggression has been resolved pursuant to an agreement between the Russian Federation and the Government of Ukraine. 105. International mechanism to use Russian sovereign assets to provide for the reconstruction of Ukraine (a) In general The President shall take steps the President determines are appropriate to coordinate with the G7, the European Union, Australia, and other partners and allies of the United States regarding the disposition of immobilized Russian sovereign assets, such as by seeking to establish a coordinated international compensation mechanism with foreign partners, including Ukraine, the G7, the European Union, Australia, and other partners and allies of the United States, which may include the establishment of an international fund, to be known as the Common Ukraine Fund , that uses assets in the Ukraine Support Fund established under section 104(d) and contributions from foreign partners to allow for compensation for Ukraine, including by— (1) supporting a register of damage to serve as a record of evidence and for assessment of the full costs of damages to Ukraine resulting from the invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) establishing a mechanism for compensating Ukraine for damages resulting from that invasion; (3) ensuring distribution of those assets or the proceeds of those assets based on determinations under that mechanism; and (4) taking such other actions as may be necessary to carry out this section. (b) Authorization for deposit Upon the President reaching an agreement or arrangement to establish a common international compensation mechanism pursuant to subsection (a), the Secretary of State may transfer funds from the Ukraine Support Fund established under section 104(d) to a fund or mechanism established consistent with subsection (a). (c) Notifications (1) Agreement or arrangement The President shall notify the appropriate congressional committees not later than 30 days before entering into any new bilateral or multilateral agreement or arrangement under subsection (a). (2) Transfer The President shall notify the appropriate congressional committees not later than 30 days before any transfer from the Ukraine Support Fund to a fund established consistent with subsection (a). (d) Good governance The Secretary of State, in consultation with the Secretary of the Treasury, shall— (1) seek to ensure that any fund or mechanism established consistent with subsection (a) operates in accordance with established international accounting principles; (2) seek to ensure that any such fund or mechanism is— (A) staffed, operated, and administered in accordance with established accounting rules and governance procedures, including a mechanism for the governance and operation of the fund or mechanism; (B) operated transparently as to all funds transfers, filings, and decisions; and (C) audited on a regular basis by an independent auditor, in accordance with internationally accepted accounting and auditing standards; (3) seek to ensure that any audits of any such fund or mechanism are made available to the public; and (4) ensure that any audits of any such fund or mechanism are reviewed and reported on by the Government Accountability Office to the appropriate congressional committees and the public. (e) Limitation on transfer of funds No funds may be transferred from the Ukraine Support Fund to a fund or mechanism established consistent with subsection (a) unless the President certifies to the appropriate congressional committees that— (1) the institution housing the fund or mechanism has a plan to ensure transparency and accountability for all funds transferred to and from the Common Ukraine Fund; and (2) the President has transmitted the plan required under paragraph (1) to the appropriate congressional committees in writing. (f) Joint resolution of disapproval No funds may be transferred from the Ukraine Support Fund to a fund or mechanism established consistent with subsection (a) if, within 30 days of receipt of the notification required under subsection (c)(2), a joint resolution is enacted prohibiting the transfer. (g) Report Not later than 90 days after the date of the enactment of this Act, and not less frequently than every 90 days thereafter, the President shall submit to the appropriate congressional committees a report that includes the following: (1) An accounting of funds in any fund or mechanism established consistent with subsection (a). (2) Any information regarding the disposition of any such fund or mechanism that has been transmitted to the President by the institution housing the fund or mechanism during the period covered by the report. (3) A description of United States multilateral and bilateral diplomatic engagement with allies and partners of the United States that also have immobilized Russian sovereign assets to allow for compensation for Ukraine during the period covered by the report. (4) An outline of steps taken to carry out this section during the period covered by the report. 106. Report on use of Russian sovereign assets Not later than 90 days after the date of the enactment of this Act, and every 180 days thereafter, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the appropriate congressional committees a report that contains— (1) the amount and source of Russian sovereign assets seized, transferred, or confiscated pursuant to subsection (b)(1) of section 104; (2) the amount and source of funds transferred into the Ukraine Support Fund under subsection (b)(3) of that section; and (3) a detailed description and accounting of how such funds were used to meet the purposes described in subsection (e) of that section. 107. Report on immobilized assets of the Central Bank of the Russian Federation (a) In general Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury, in consultation with the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Securities and Exchange Commission, and the Commodity Futures Trading Commission, shall submit to the appropriate congressional committees a report that includes— (1) the best available accounting of the location, value, and denomination of blocked and immobilized assets of the Central Bank of the Russian Federation, as well as any additional assets of that bank held outside of the Russian Federation; (2) with respect to blocked and immobilized assets of the Central Bank of the Russian Federation— (A) a break down of those assets by the country or jurisdiction in which such assets are located; (B) an estimate of the value and denomination of the assets held in each such country or jurisdiction; and (C) an identification of whether those assets are securities, deposits, or other assets; (3) an estimate, to the extent feasible, of— (A) the total income received from those assets since the dates that the assets were blocked or immobilized; and (B) the approximate amounts of those assets that are securities and have matured or expired; and (4) an assessment of— (A) what may have happened to the securities described in paragraph (3)(B); and (B) how the funds from maturing securities have been reinvested and the associated income flows. (b) Addressing uncertainty In preparing the report required by subsection (a), the Secretary shall— (1) where exact figures are uncertain, provide approximate ranges for those figures; and (2) identify areas of uncertainty or gaps in accounting, including areas where the Central Bank of the Russian Federation may have additional assets outside of the Russian Federation. (c) Coordination with allies The Secretary shall work with the G7 and other allies of the United States to obtain the information necessary to ensure that the report submitted under subsection (a) is comprehensive. A joint report by the Secretary and such allies shall satisfy the requirements of this subsection. (d) Form (1) In general The report required by subsection (a) shall be submitted in unclassified form, but may include a classified annex. (2) Focus on public availability of information In preparing the report required by subsection (a), the Secretary shall maximize the amount of information that is included in the unclassified portion of the report. 108. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Secretary of the Treasury and Administrator of the United States Agency for International Development, shall submit to the appropriate congressional committees an assessment of the most pressing needs of Ukraine for reconstruction, rebuilding, security assistance, and humanitarian aid. (b) Elements The assessment required by subsection (a) shall include the following: (1) An estimate of the rebuilding and reconstruction needs of Ukraine, as of the date of the assessment, resulting from the unlawful invasion of Ukraine by the Russian Federation, including— (A) a description of the sources and methods for the estimate; and (B) an identification of the locations or regions in Ukraine with the most pressing needs. (2) An estimate of the humanitarian needs, as of the date of the assessment, of the people of Ukraine, including Ukrainians residing inside the internationally recognized borders of Ukraine or outside those borders, resulting from the unlawful invasion of Ukraine by the Russian Federation. (3) An assessment of the extent to which the needs described in paragraphs (1) and (2) have been met or funded, by any source, as of the date of the assessment. (4) A plan to engage in robust multilateral and bilateral diplomacy to ensure that allies and partners of the United States, particularly in the European Union as Ukraine seeks accession, increase their commitment to Ukraine’s reconstruction. (5) An identification of which such needs should be prioritized, including any assessment or request by the Government of Ukraine with respect to the prioritization of such needs. 109. Exception relating to importation of goods (a) In general The authorities and requirements under this title shall not include the authority or a requirement to impose sanctions on the importation of goods. (b) Good defined In this section, the term good means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data. II Multilateral coordination and countering malign activities of the Russian Federation 201. Statement of policy regarding multilateral coordination with respect to the Russian Federation (a) In general In response to the Russian Federation’s unprovoked and illegal invasion of Ukraine, it is the policy of the United States that— (1) the United States, along with the European Union, the G7, Australia, and other willing allies and partners of the United States, should continue to lead a coordinated international sanctions regime to freeze sovereign assets of the Russian Federation; (2) the Secretary of State should continue to engage in interagency and multilateral coordination with agencies of the European Union, the G7, Australia, and other allies and partners of the United States on efforts related to countering the Russian Federation, including efforts related to the confiscation and repurposing of Russian sovereign assets, as well as to ensure the ongoing implementation and enforcement of sanctions with respect to the Russian Federation in response to its invasion of Ukraine; (3) the Secretary of State, in consultation with the Secretary of the Treasury, should, to the extent practicable and consistent with relevant United States law, continue to lead and coordinate with the European Union, the G7, Australia, and other allies and partners of the United States with respect to enforcement of sanctions imposed with respect to the Russian Federation; (4) the United States should continue to provide relevant technical assistance, implementation guidance, and support relating to enforcement and implementation of sanctions imposed with respect to the Russian Federation; (5) where appropriate, the Secretary of State, in consultation with the Secretary of the Treasury, should continue to seek private sector input regarding sanctions policy with respect to the Russian Federation and the implementation of and compliance with such sanctions imposed with respect to the Russian Federation; and (6) the Secretary of State, in coordination with the Secretary of the Treasury, should continue robust diplomatic engagement with allies and partners of the United States, including the European Union, the G7, and Australia, to encourage such allies and partners to continue to take appropriate actions against the Russian Federation, including the imposition of sanctions. (b) Authorization of appropriations (1) In general There is authorized to be appropriated to the Secretary of State $15,000,000 for each of fiscal years 2025, 2026, and 2027, to carry out this section. (2) Supplement not supplant The amounts authorized to be appropriated by paragraph (1) shall supplement and not supplant other amounts authorized to be appropriated for the Department of State. 202. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation Section 406(b) of the Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 ( 22 U.S.C. 2414a(b) ), is amended— (1) in paragraph (4), by striking Assembly on and all that follows through opposed by the United States; and inserting the following: ‘‘Assembly on— (A) resolutions specifically related to Israel that are opposed by the United States; and (B) resolutions specifically related to the invasion of Ukraine by the Russian Federation; ; (2) in paragraph (5), by striking ; and and inserting a semicolon; (3) by redesignating paragraph (6) as paragraph (7); and (4) by inserting after paragraph (5) the following: (6) an analysis and discussion, prepared in consultation with the Secretary of State, of the extent to which member countries supported United States policy objectives in the Security Council and the General Assembly with respect to the invasion of Ukraine by the Russian Federation; and . 203. Expansion of forfeited property available to remediate harms to Ukraine from Russian aggression (a) In general Section 1708 of the Additional Ukraine Supplemental Appropriations Act, 2023 (division M of Public Law 117–328 ; 136 Stat. 5200) is amended— (1) in subsection (a), by inserting from any forfeiture fund after The Attorney General may transfer ; and (2) in subsection (c)— (A) in paragraph (2), by striking which property belonged and all that follows and inserting the following: which property— (A) belonged to, was possessed by, or was controlled by a person the property or interests in property of which were blocked pursuant to any covered legal authority; (B) was involved in an act in violation of, or a conspiracy or scheme to violate or cause a violation of— (i) any covered legal authority; or (ii) any restriction on the export, reexport, or in-country transfer of items imposed by the United States under the Export Administration Regulations, or any restriction on the export, reexport, or retransfer of defense articles under the International Traffic in Arms Regulations under subchapter M of chapter I of title 22, Code of Federal Regulations, with respect to— (I) the Russian Federation, Belarus, the Crimea region of Ukraine, or the so-called Donetsk and Luhansk People’s Republic regions of Ukraine; (II) any person in any such country or region on a restricted parties list; or (III) any person located in any other country that has been added to a restricted parties list in connection with the malign conduct of the Russian Federation in Ukraine, including the annexation of the Crimea region of Ukraine in March 2014 and the invasion beginning in February 2022 of Ukraine, as substantially enabled by Belarus; or (C) was involved in any related conspiracy, scheme, or other Federal offense arising from the actions of, or doing business with or acting on behalf of, the Russian Federation, Belarus, or the Crimea region of Ukraine, or the so-called Donetsk and Luhansk People’s Republic regions of Ukraine. ; and (B) by adding at the end the following: (3) The term covered legal authority means any license, order, regulation, or prohibition imposed by the United States under the authority provided by the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) or any other provision of law, with respect to— (A) the Russian Federation; (B) the national emergency— (i) declared in Executive Order 13660 ( 50 U.S.C. 1701 note; relating to blocking property of certain persons contributing to the situation in Ukraine); (ii) expanded by— (I) Executive Order 13661 ( 50 U.S.C. 1701 note; relating to blocking property of additional persons contributing to the situation in Ukraine); and (II) Executive Order 13662 ( 50 U.S.C. 1701 note; relating to blocking property of additional persons contributing to the situation in Ukraine); and (iii) relied on for additional steps taken in Executive Order 13685 ( 50 U.S.C. 1701 note; relating to blocking property of certain persons and prohibiting certain transactions with respect to the Crimea region of Ukraine); (C) the national emergency, as it relates to the Russian Federation— (i) declared in Executive Order 13694 ( 50 U.S.C. 1701 note; relating to blocking the property of certain persons engaging in significant malicious cyber-enabled activities); and (ii) relied on for additional steps taken in Executive Order 13757 ( 50 U.S.C. 1701 note; relating to taking additional steps to address the national emergency with respect to significant malicious cyber-enabled activities); (D) the national emergency— (i) declared in Executive Order 14024 ( 50 U.S.C. 1701 note; relating to blocking property with respect to specified harmful foreign activities of the Government of the Russian Federation); (ii) expanded by Executive Order 14066 ( 50 U.S.C. 1701 note; relating to prohibiting certain imports and new investments with respect to continued Russian Federation efforts to undermine the sovereignty and territorial integrity of Ukraine); and (iii) relied on for additional steps taken in— (I) Executive Order 14039 ( 22 U.S.C. 9526 note; relating to blocking property with respect to certain Russian energy export pipelines); (II) Executive Order 14068 ( 50 U.S.C. 1701 note; relating to prohibiting certain imports, exports, and new investment with respect to continued Russian Federation aggression); and (III) Executive Order 14071 ( 50 U.S.C. 1701 note; relating to prohibiting new investment in and certain services to the Russian Federation in response to continued Russian Federation aggression); and (iv) which may be expanded or relied on in future Executive orders; or (E) actions or policies that undermine the democratic processes and institutions in Ukraine or threaten the peace, security, stability, sovereignty, or territorial integrity of Ukraine. (4) The term Export Administration Regulations has the meaning given that term in section 1742 of the Export Control Reform Act of 2018 ( 50 U.S.C. 4801 ). (5) The term restricted parties list means any of the following lists maintained by the Bureau of Industry and Security: (A) The Entity List set forth in Supplement No. 4 to part 744 of the Export Administration Regulations. (B) The Denied Persons List maintained pursuant to section 764.3(a)(2) of the Export Administration Regulations. (C) The Unverified List set forth in Supplement No. 6 to part 744 of the Export Administration Regulations. . (b) Semiannual reports Such section is further amended— (1) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively; and (2) by inserting after subsection (b) the following: (c) Not later than 180 days after the date of the enactment of the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act , and every 180 days thereafter, the Secretary of State, in consultation with the Attorney General and the Secretary of the Treasury, shall submit to the appropriate congressional committees a report on progress made in remediating the harms of Russian aggression toward Ukraine as a result of transfers made under subsection (a). . (c) Plan required (1) In general Not later than 30 days after the date of the enactment of this Act, the Attorney General, in consultation with the Secretary of the Treasury and the Secretary of State, shall submit to the appropriate congressional committees a plan for using the authority provided by section 1708 of the Additional Ukraine Supplemental Appropriations Act, 2023, as amended by this section. (2) Appropriate congressional committees defined In this section, the term appropriate congressional committees has the meaning given that term by section 1708 of the Additional Ukraine Supplemental Appropriations Act, 2023, as amended by this section. 204. Extensions (a) Section 5(a) of the Elie Wiesel Genocide and Atrocities Prevention Act of 2018 ( Public Law 115–441 ; 132 Stat. 5587) is amended, in the matter preceding paragraph (1), by striking six years and inserting “12 years”. (b) Section 1287(j) of the National Defense Authorization Act for Fiscal Year 2017 ( Public Law 114–328 ; 22 U.S.C. 2656 note) is amended by striking on the date that is 8 years after the date of the enactment of this Act and inserting on September 30, 2029 . 205. Recognition of Russian actions in Ukraine as a genocide (a) Findings Congress finds the following: (1) The Russian Federation's illegal, premeditated, unprovoked, and brutal war against Ukraine includes extensive, systematic, and flagrant atrocities against the people of Ukraine. (2) Article II of the Convention on the Prevention and Punishment of the Crime of Genocide (in this section referred to as the Genocide Convention ), adopted and opened for signature in 1948 and entered into force in 1951, defines genocide as any of the following acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group, as such: (a) Killing members of the group; (b) Causing serious bodily or mental harm to members of the group; (c) Deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or in part; (d) Imposing measures intended to prevent births within the group; (e) Forcibly transferring children of the group to another group . (3) On October 3, 2018, the Senate unanimously agreed to Senate Resolution 435, 115th Congress, which commemorated the 85th anniversary of the Holodomor and recognize[d] the findings of the Commission on the Ukraine Famine as submitted to Congress on April 22, 1988, including that Joseph Stalin and those around him committed genocide against the Ukrainians in 1932–1933 . (4) Substantial and significant evidence documents widespread, systematic actions against the Ukrainian people committed by Russian forces under the direction of political leadership of the Russian Federation that meet one or more of the criteria under article II of the Genocide Convention, including— (A) killing members of the Ukrainian people in mass atrocities through deliberate and regularized murders of fleeing civilians and civilians in passing as well as purposeful targeting of homes, schools, hospitals, shelters, and other residential and civilian areas; (B) causing serious bodily or mental harm to members of the Ukrainian people by launching indiscriminate attacks against civilians and civilian areas, conducting willful strikes on humanitarian evacuation corridors, and employing widespread and systematic sexual violence against Ukrainian civilians, including women, children, and men; (C) deliberately inflicting upon the Ukrainian people conditions of life calculated to bring about their physical destruction in whole or in part, including displacement due to annihilated villages, towns, and cities left devoid of food, water, shelter, electricity, and other basic necessities, starvation caused by the destruction of farmlands and agricultural equipment, the placing of Russian landmines across thousands of acres of useable fields, and blocking the delivery of humanitarian food aid; (D) imposing measures intended to prevent births among the Ukrainian people, demonstrated by the Russian military’s expansive and direct targeting of maternity hospitals and other medical facilities and systematic attacks against residential and civilian areas as well as humanitarian corridors intended to deprive Ukrainians of safe havens within their own country and the material conditions conducive to childrearing; and (E) forcibly mass transferring millions of Ukrainian civilians, hundreds of thousands of whom are children, to the Russian Federation or territories controlled by the Russian Federation. (5) The intent of the Russian Federation and those acting on its behalf in favor of those heinous crimes against humanity has been demonstrated through frequent pronouncements and other forms of official communication denying Ukrainian nationhood, including President Putin’s ahistorical claims that Ukraine is part of a single whole Russian nation with no historical basis for being an independent country. (6) Some Russian soldiers and brigades accused of committing war crimes in Bucha, Ukraine, and elsewhere were rewarded with medals by President Putin. (7) The Russian state-owned media outlet RIA Novosti published the article What Should Russia do with Ukraine , which outlines de-Nazification as meaning de-Ukrainianization or the destruction of Ukraine and rejection of the ethnic component of Ukraine. (8) Article I of the Genocide Convention confirms that genocide, whether committed in time of peace or in time of war, is a crime under international law which [the Contracting Parties] undertake to prevent and to punish . (9) Although additional documentation and analysis of atrocities committed by the Russian Federation in Ukraine may be needed to punish those responsible, the substantial and significant documentation already undertaken, combined with statements showing intent, compel urgent action to prevent future acts of genocide. (10) The Global Magnitsky Human Rights Accountability Act ( 22 U.S.C. 10101 et seq. ) authorizes the President to impose economic sanctions on, and deny entry into the United States to, foreign individuals identified as engaging in gross violations of internationally recognized human rights. (b) Sense of the Senate It is the sense of the Senate that— (1) those acting on behalf of the Russian Federation should be condemned for committing acts of genocide against the Ukrainian people; (2) the United States, in cooperation with allies in the North Atlantic Treaty Organization and the European Union, should undertake measures to support the Government of Ukraine to prevent acts of Russian genocide against the Ukrainian people; (3) tribunals and international criminal investigations should be supported to hold Russian political leaders and military personnel to account for a war of aggression, war crimes, crimes against humanity, and genocide; and (4) the President should use the authorities under the Global Magnitsky Human Rights Accountability Act ( 22 U.S.C. 10101 et seq. ) to impose economic sanctions on those responsible for, or complicit in, genocide in Ukraine by the Russian Federation and those acting on its behalf.

January 30, 2024 Reported with an amendment

tv_txt: II 118th CONGRESS 1st Session S. 2003 IN THE SENATE OF THE UNITED STATES June 15, 2023 Mr. Risch (for himself and Mr. Whitehouse ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations A BILL To authorize the Secretary of State to provide additional assistance to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other sovereign assets of the Russian Federation, and for other purposes.

1. Short title; table of contents (a) Short title This Act may be cited as the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—Confiscation and Repurposing of Russian Sovereign Assets Sec. 101. Findings; sense of Congress. Sec. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine. Sec. 103. Prohibition on release of blocked Russian sovereign assets. Sec. 104. Authority to ensure compensation to Ukraine using confiscated Russian sovereign assets. Sec. 105. International agreement to use Russian sovereign assets to provide for the reconstruction of Ukraine. Sec. 106. Report on use of confiscated Russian sovereign assets for reconstruction. Sec. 107. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine. Sec. 108. Exception relating to importation of goods. Sec. 109. Definitions. TITLE II—Multilateral Sanctions Coordination Sec. 201. Statement of policy regarding coordination of multilateral sanctions with respect to the Russian Federation. Sec. 202. Assessment of impact of Ukraine-related sanctions on the economy of the Russian Federation. Sec. 203. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation. I Confiscation and Repurposing of Russian Sovereign Assets 101. Findings; sense of Congress (a) Findings Congress makes the following findings: (1) On February 24, 2022, the Government of the Russian Federation violated the sovereignty and territorial integrity of Ukraine by engaging in a premeditated, second illegal invasion of Ukraine. (2) The international community has condemned the illegal invasions of Ukraine by the Russian Federation, as well as the commission of war crimes by the Russian Federation, including through the deliberate targeting of civilians and civilian infrastructure and the commission of sexual violence. (3) The leaders of the G7 have called the Russian Federation’s unprovoked and completely unjustified attack on the democratic state of Ukraine a serious violation of international law and a grave breach of the United Nations Charter and all commitments Russia entered in the Helsinki Final Act and the Charter of Paris and its commitments in the Budapest Memorandum . (4) On March 2, 2022, the United Nations General Assembly adopted Resolution ES–11/1, entitled Aggression against Ukraine , by a vote of 141 to 5. That resolution deplore[d] in the strongest terms the aggression by the Russian Federation against Ukraine in violation of Article 2(4) of the [United Nations] Charter and demanded that the Russian Federation immediately cease its use of force against Ukraine and immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognized borders . (5) On March 16, 2022, the International Court of Justice issued provisional measures ordering the Russian Federation to immediately suspend the military operations that it commenced on 24 February 2022 in the territory of Ukraine . (6) On November 14, 2022, the United Nations General Assembly adopted a resolution— (A) recognizing that the Russian Federation must bear the legal consequences of all of its internationally wrongful acts, including making reparation for the injury, including any damage, caused by such acts; (B) recognizing the need for the establishment of an international mechanism for reparation for damage, loss, or injury caused by the Russian Federation in Ukraine; and (C) recommending creation of an international register of such damage, loss, or injury. (7) Under international law, a country that is responsible for an internationally wrongful act is under an obligation to compensate for the damage it has caused if such damage cannot be made good by restitution. The Russian Federation bears such responsibility to compensate Ukraine, and because of this grave breach of international law, all states are legally entitled to take countermeasures that are proportionate and aimed at inducing the Russian Federation to comply with its international obligations, including countermeasures that suspend ordinary international obligations to the Russian Federation, to help enforce the obligation of the Russian Federation to compensate Ukraine. (b) Sense of congress It is the sense of Congress that, having committed an act of aggression, as recognized by the United Nations General Assembly on March 2, 2022, the Russian Federation is to be considered as an aggressor state. The extreme illegal actions taken by the Russian Federation, including an act of aggression, present a unique situation, requiring and justifying the establishment of a legal authority to compensate victims of aggression by the Russian Federation in Ukraine. In this case, that authority is the authority of the United States Government and other countries to confiscate Russian sovereign assets in their respective jurisdictions to help enforce the obligation of the Russian Federation to compensate Ukraine. 102. Sense of Congress regarding importance of the Russian Federation providing compensation to Ukraine It is the sense of Congress that— (1) the Russian Federation bears responsibility for the financial burden of the reconstruction of Ukraine and for countless other costs associated with the illegal invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) the full cost of the Russian Federation’s unlawful war against Ukraine and the amount of money the Russian Federation must pay Ukraine should be assessed by an international body or mechanism charged with determining compensation and providing assistance to Ukraine; (3) the Russian Federation is now on notice of its opportunity to comply with its international obligations, including compensation, or, by agreement with the government of independent Ukraine, authorize an international body or mechanism to address those outstanding obligations with authority to make binding decisions on parties that comply in good faith; (4) the Russian Federation can, by negotiated agreement, participate in any international process to assess the full cost of the Russian Federation’s unlawful war against Ukraine and make funds available to compensate for damage, loss, and injury arising from its internationally wrongful acts in Ukraine, and if it fails to do so, the United States and other countries should explore other avenues for ensuring compensation to Ukraine, including confiscation and repurposing of assets of the Russian Federation; (5) the President should lead robust engagement on all bilateral and multilateral aspects of the response by the United States to efforts by the Russian Federation to undermine the sovereignty and territorial integrity of Ukraine, including on any policy coordination and alignment regarding the disposition of Russian sovereign assets in the context of compensation; (6) the confiscation and repurposing of Russian sovereign assets by the United States is in the vital national security interests of the United States and consistent with United States and international law; and (7) the United States should work with international allies and partners on the confiscation and repurposing of Russian sovereign assets as part of a coordinated, multilateral effort, including with G7 countries and other countries in which Russian sovereign assets are located. 103. Prohibition on release of blocked Russian sovereign assets (a) In general No Russian sovereign asset that is blocked or immobilized by the Department of the Treasury before the date specified in section 104(g) may be released or mobilized until the President certifies to the appropriate congressional committees that— (1) hostilities between the Russian Federation and Ukraine have ceased; and (2) (A) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; or (B) the Russian Federation is participating in a bona fide international mechanism that, by agreement, will discharge the obligations of the Russian Federation to compensate Ukraine for all amounts determined to be owed to Ukraine. (b) Notification Not later than 30 days before the release or mobilization of a Russian sovereign asset that previously had been blocked or immobilized by the Department of the Treasury, the President shall submit to the appropriate congressional committees— (1) a notification of the decision to release or mobilize the asset; and (2) a justification in writing for such release or mobilization. (c) Joint resolution of disapproval (1) In general No Russian sovereign asset that previously had been blocked or immobilized by the Department of the Treasury may be released or mobilized if, within 30 days of receipt of the notification and justification required under subsection (b), a joint resolution is enacted prohibiting the proposed release or mobilization. (2) Expedited procedures Any joint resolution described in paragraph (1) introduced in either House of Congress shall be considered in accordance with the provisions of section 601(b) of the International Security Assistance and Arms Export Control Act of 1976 ( Public Law 94–329 ; 90 Stat. 765), except that any such resolution shall be amendable. If such a joint resolution should be vetoed by the President, the time for debate in consideration of the veto message on such measure shall be limited to 20 hours in the Senate and in the House of Representatives shall be determined in accordance with the Rules of the House. (d) Cooperation on prohibition of release of certain Russian sovereign assets The President may take such action as may be necessary to seek to obtain an agreement or arrangement between the United States, Ukraine, and other countries that have blocked or immobilized Russian sovereign assets to prohibit such assets from being released or mobilized until an agreement has been reached that discharges the Russian Federation from further obligations to compensate Ukraine. 104. Authority to ensure compensation to Ukraine using confiscated Russian sovereign assets (a) Reporting on Russian assets (1) Notice required Not later than 30 days after the date of the enactment of this Act, the President shall, by means of such instructions or regulations as the President may prescribe, require any United States financial institution at which Russian sovereign assets are located, and that knows or should know of such assets, to provide notice of such assets, including relevant information required under section 501.603(b)(ii) of title 31, Code of Federal Regulations (or successor regulations), to the Secretary of the Treasury not later than 10 days after detection of such assets. (2) Report required (A) In general Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 3 years, the President shall submit to the appropriate congressional committees a report detailing the status of Russian sovereign assets subject to the jurisdiction of the United States. (B) Form The report required by subparagraph (A) shall be submitted in unclassified form, but may include a classified annex. (b) Confiscation (1) In general The President may confiscate any Russian sovereign assets subject to the jurisdiction of the United States. (2) Liquidation and deposit The President shall— (A) deposit any funds confiscated under paragraph (1) into the Ukraine Support Fund established under subsection (c); (B) liquidate or sell any other property confiscated under paragraph (1) and deposit the funds resulting from such liquidation or sale into the Ukraine Support Fund established under subsection (c); and (C) make all such funds available for the purposes described in subsection (d). (3) Method of confiscation The President shall confiscate Russian sovereign assets under paragraph (1) through instructions or licenses or in such other manner as the President determines appropriate. (4) Vesting All right, title, and interest in Russian sovereign assets confiscated under paragraph (1) shall vest, if necessary, in the Government of the United States while being held in the Ukraine Support Fund established under subsection (c). (c) Establishment of the Ukraine Support Fund (1) In general The President shall establish a non-interest-bearing account, to be known as the Ukraine Support Fund , to consist of the funds deposited into the account under subsection (b). (2) Use of funds The funds in the account established under paragraph (1) shall be available to be used only as specified in subsection (d). (d) Use of confiscated property (1) In general Subject to paragraph (2), funds in the Ukraine Support Fund shall be available to the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, for the purpose of compensating Ukraine for damages resulting from the unlawful invasion by the Russian Federation that began on February 24, 2022, including through, to the extent possible, the provision of such funds to an international body or mechanism charged with determining compensation and providing assistance to Ukraine, for purposes that include the following: (A) Reconstruction and rebuilding efforts in Ukraine. (B) To provide humanitarian assistance to the people of Ukraine. (C) Such other purposes as the Secretary determines directly and effectively support the recovery of Ukraine and the welfare of the people of Ukraine. (2) Notification (A) In general The Secretary of State shall notify the appropriate congressional committees not fewer than 15 days before providing any funds from the Ukraine Support Fund to the Government of Ukraine or to any other person or international organization for the purposes described in paragraph (1). (B) Elements A notification under subparagraph (A) with respect to the provision of funds to the Government of Ukraine shall specify— (i) the amount of funds to be provided; (ii) the purpose for which such funds are provided; and (iii) the recipient. (e) Judicial review (1) In general The confiscation of Russian sovereign assets under subsection (b)(1) shall not be subject to judicial review. (2) Rule of construction Nothing in this subsection shall be construed to limit any private individual or entity from asserting due process claims in United States courts. (f) Exception for United States obligations under Vienna Conventions The authorities provided by this section may not be exercised in a manner inconsistent with the obligations of the United States under— (1) the Convention on Diplomatic Relations, done at Vienna April 18, 1961, and entered into force April 24, 1964 (23 UST 3227); (2) the Convention on Consular Relations, done at Vienna April 24, 1963, and entered into force on March 19, 1967 (21 UST 77); (3) the Agreement Regarding the Headquarters of the United Nations, signed at Lake Success June 26, 1947, and entered into force November 21, 1947 (TIAS 1676); or (4) any other international agreement governing the use of force and establishing rights under international humanitarian law. (g) Sunset The authority to confiscate, liquidate, and transfer Russian sovereign assets under this section shall terminate on the earlier of— (1) the date that is 5 years after the date of the enactment of this Act; or (2) the date that is 120 days after the date on which the President determines and certifies to the appropriate congressional committees that— (A) hostilities between the Russian Federation and Ukraine have ceased; and (B) (i) full compensation has been made to Ukraine for harms resulting from the invasion of Ukraine by the Russian Federation; or (ii) the Russian Federation is participating in a bona fide international mechanism that, by agreement, will discharge the obligations of the Russian Federation to compensate Ukraine for all amounts determined to be owed to Ukraine. 105. International agreement to use Russian sovereign assets to provide for the reconstruction of Ukraine (a) In general The President shall take such action as the President determines necessary to seek to establish a common international compensation mechanism, in coordination with foreign partners including Ukraine, that shall include the establishment of an international fund to be known as the Common Ukraine Fund , that uses assets in the Ukraine Support Fund established under section 104(c) and contributions from foreign partners that have also confiscated Russian sovereign assets to allow for compensation for Ukraine, including by— (1) establishing a register of damage to serve as a record of evidence and for assessment of the full costs of damages to Ukraine resulting from the invasion of Ukraine by the Russian Federation that began on February 24, 2022; (2) establishing a mechanism for compensating Ukraine for damages resulting from that invasion; (3) ensuring distribution of those assets or the proceeds of those assets based on determinations under that mechanism; and (4) taking such other actions as may be necessary to carry out this section. (b) Authorization for deposit in the Common Ukraine Fund Upon the President reaching an agreement or arrangement to establish a common international compensation mechanism pursuant to subsection (a), the Secretary of State shall transfer funds from the Ukraine Support Fund established under section 104(c) to the Common Ukraine Fund established under subsection (a). (c) Notifications (1) Agreement or arrangement The President shall notify the appropriate congressional committees not later than 30 days before entering into any new bilateral or multilateral agreement or arrangement under subsection (a). (2) Transfer The President shall notify the appropriate congressional committees not later than 30 days before any transfer to the Common Ukraine Fund established under subsection (a). (d) Limitation on transfer of funds No funds may be transferred to the Common Ukraine Fund established under subsection (a) unless the President certifies to the appropriate congressional committees that— (1) the institution housing the Common Ukraine Fund has a plan to ensure transparency and accountability for all funds transferred to and from the Common Ukraine Fund; and (2) the President has transmitted the plan required under paragraph (1) to the appropriate congressional committees in writing. (e) Joint resolution of disapproval No funds may be transferred to the Common Ukraine Fund established under subsection (a) if, within 30 days of receipt of the notification required under subsection (c)(2), a joint resolution is enacted prohibiting the transfer. (f) Report Not later than 90 days after the date of the enactment of this Act, and not less frequently than every 90 days thereafter, the President shall submit to the appropriate congressional committees a report that includes the following: (1) An accounting of funds in the Common Ukraine Fund established under subsection (a). (2) Any information regarding the disposition of the Common Ukraine Fund that has been transmitted to the President by the institution housing the Common Ukraine Fund during the period covered by the report. (3) A description of United States multilateral and bilateral diplomatic engagement with allies and partners of the United States that also have immobilized Russian sovereign assets to allow for compensation for Ukraine during the period covered by the report. (4) An outline of steps taken to carry out this section during the period covered by the report. 106. Report on use of confiscated Russian sovereign assets for reconstruction Not later than 90 days after the date of the enactment of this Act, and every 90 days thereafter, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the appropriate congressional committees a report that contains— (1) the amount and source of Russian sovereign assets confiscated pursuant to subsection (b)(1) of section 104; (2) the amount and source of funds deposited into the Ukraine Support Fund under subsection (b)(2) of that section; and (3) a detailed description and accounting of how such funds were used to meet the purposes described in subsection (d) of that section. 107. Assessment by Secretary of State and Administrator of United States Agency for International Development on reconstruction and rebuilding needs of Ukraine (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, shall submit to the appropriate congressional committees an assessment of the most pressing needs of Ukraine for reconstruction, rebuilding, security assistance, and humanitarian aid. (b) Elements The assessment required by subsection (a) shall include the following: (1) An estimate of the rebuilding and reconstruction needs of Ukraine, as of the date of the assessment, resulting from the unlawful invasion of Ukraine by the Russian Federation, including— (A) a description of the sources and methods for the estimate; and (B) an identification of the locations or regions in Ukraine with the most pressing needs. (2) An estimate of the humanitarian needs, as of the date of the assessment, of the people of Ukraine, including Ukrainians residing inside the internationally recognized borders of Ukraine or outside those borders, resulting from the unlawful invasion of Ukraine by the Russian Federation. (3) An assessment of the extent to which the needs described in paragraphs (1) and (2) have been met or funded, by any source, as of the date of the assessment. (4) A plan to engage in robust multilateral and bilateral diplomacy to ensure that allies and partners of the United States, particularly in the European Union as Ukraine seeks accession, increase their commitment to Ukraine’s reconstruction. (5) An identification of which such needs should be prioritized, including any assessment or request by the Government of Ukraine with respect to the prioritization of such needs. 108. Exception relating to importation of goods (a) In general The authorities and requirements under this title shall not include the authority or a requirement to impose sanctions on the importation of goods. (b) Good defined In this section, the term good means any article, natural or manmade substance, material, supply, or manufactured product, including inspection and test equipment, and excluding technical data. 109. Definitions In this title: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (B) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives. (2) Financial institution The term financial institution means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (M), or (Z) of section 5312(a)(2) of title 31, United States Code. (3) G 7 The term G7 means the countries that are member of the informal Group of 7, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. (4) Russian sovereign asset The term Russian sovereign asset means any of the following: (A) Funds and other property of— (i) the Central Bank of the Russian Federation; (ii) the Russian Direct Investment Fund; or (iii) the Ministry of Finance of the Russian Federation. (B) Any sovereign funds of the Russian Federation held in a financial institution that is wholly owned or controlled by the Government of the Russian Federation. (C) Any other funds or other property wholly owned or controlled by the Government of the Russian Federation, including by any subdivision, agency, or instrumentality of that government. (5) United States The term United States means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States. (6) United States financial institution The term United States financial institution means a financial institution organized under the laws of the United States or of any jurisdiction within the United States, including a foreign branch of such an institution. II Multilateral Sanctions Coordination 201. Statement of policy regarding coordination of multilateral sanctions with respect to the Russian Federation (a) In general In response to the Russian Federation’s unprovoked and illegal invasion of Ukraine, it is the policy of the United States that— (1) the United States, along with the European Union, the G7, Australia, and other willing allies and partners of the United States, should lead a coordinated international sanctions regime to freeze sovereign assets of the Russian Federation; (2) the head of the Office of Sanctions Coordination of the Department of State should engage in interagency and multilateral coordination with agencies of the European Union, the G7, Australia, and other allies and partners of the United States to ensure the ongoing implementation and enforcement of sanctions with respect to the Russian Federation in response to its invasion of Ukraine; (3) the Secretary of State, in consultation with the Secretary of the Treasury, should, to the extent practicable and consistent with relevant United States law, lead and coordinate with the European Union, the G7, Australia, and other allies and partners of the United States with respect to enforcement of sanctions imposed with respect to the Russian Federation; (4) the United States should provide relevant technical assistance, implementation guidance, and support relating to enforcement and implementation of sanctions imposed with respect to the Russian Federation; (5) where appropriate, the head of the Office of Sanctions Coordination, in coordination with the Bureau of Economic and Business Affairs and the Bureau of European and Eurasian Affairs of the Department of State and the Department of the Treasury, should seek private sector input regarding sanctions policy with respect to the Russian Federation and the implementation of and compliance with such sanctions imposed with respect to the Russian Federation; and (6) the Secretary of State, in coordination with the Secretary of the Treasury, should continue robust diplomatic engagement with allies and partners of the United States, including the European Union, the G7, and Australia, to encourage such allies and partners to impose such sanctions. (b) Authorization of appropriations (1) In general There is authorized to be appropriated to the Office of Sanctions Coordination of the Department of State $15,000,000 for each of fiscal years 2024, 2025, and 2026 to carry out this section. (2) Supplement not supplant The amounts authorized to be appropriated by paragraph (1) shall supplement and not supplant other amounts authorized to be appropriated for the Office of Sanctions Coordination. 202. Assessment of impact of Ukraine-related sanctions on the economy of the Russian Federation (a) Report and briefings At the times specified in subsection (b), the President shall submit a report and provide a briefing to the appropriate congressional committees on the impact on the economy of the Russian Federation of sanctions imposed by the United States and other countries with respect to the Russian Federation in response to the unlawful invasion of Ukraine by the Russian Federation. (b) Timing The President shall— (1) submit a report and provide a briefing described in subsection (a) to the appropriate congressional committees not later than 90 days after the date of the enactment of this Act; and (2) submit to the appropriate congressional committees a report described in subsection (a) every 180 days thereafter until the date that is 5 years after such date of enactment. (c) Elements Each report required by this section shall include— (1) an assessment of— (A) the impacts of the sanctions described in subsection (a), disaggregated by major economic sector, including the energy, aerospace and defense, shipping, banking, and financial sectors; (B) the macroeconomic impact of those sanctions on Russian, European, and global economy market trends, including shifts in global markets as a result of those sanctions; and (C) efforts by other countries or actors and offshore financial providers to facilitate sanctions evasion by the Russian Federation or take advantage of gaps in international markets resulting from the international sanctions regime in place with respect to the Russian Federation; and (2) recommendations for further sanctions enforcement measures based on trends described in paragraph (1)(B). 203. Information on voting practices in the United Nations with respect to the invasion of Ukraine by the Russian Federation Section 406(b) of the Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 ( 22 U.S.C. 2414a(b) ), is amended— (1) in paragraph (4), by striking Assembly on and all that follows through opposed by the United States and inserting the following: Assembly on— (A) resolutions specifically related to Israel that are opposed by the United States; and (B) resolutions specifically related to the invasion of Ukraine by the Russian Federation. ; (2) in paragraph (5), by striking ; and and inserting a semicolon; (3) by redesignating paragraph (6) as paragraph (7); and (4) by inserting after paragraph (5) the following: (6) an analysis and discussion, prepared in consultation with the Secretary of State, of the extent to which member countries supported United States policy objectives in the Security Council and the General Assembly with respect to the invasion of Ukraine by the Russian Federation; and .