Make Russia Pay Act

Bill: 118-hr-892
Sponsor: full_name: Rep. Bice, Stephanie I. [R-OK-5]
Introduced: 2023-02-09
Policy area: International Affairs
Latest action: action_date: 2023-02-09
text: Referred to the House Committee on Foreign Affairs.

Summaries:
action_date: 2023-02-09
action_desc: Introduced in House
text: <p><strong>Make Russia Pay Act</strong></p> <p>This bill requires the Department of the Treasury to liquidate all Russian assets seized by the United States and deposit the resulting funds into a Ukrainian Humanitarian Aid Fund established by the bill. Treasury may use the funds to provide assistance to Ukraine, including by providing funding to Ukraine's government for humanitarian and security assistance. </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 892 IN THE HOUSE OF REPRESENTATIVES February 9, 2023 Mrs. Bice (for herself, Mr. LaMalfa , Mr. Estes , and Mr. Crenshaw ) introduced the following bill; which was referred to the Committee on Foreign Affairs A BILL To transfer seized Russian assets to a Ukrainian Humanitarian Aid Fund and to authorize the Secretary of the Treasury to use amounts in the Fund for humanitarian assistance for Ukraine, and for other purposes.

1. Short title This Act may be cited as the Make Russia Pay Act . 2. Ukrainian Humanitarian Aid Fund (a) Establishment of Fund There is established a fund in the Department of the Treasury to be called the Ukrainian Humanitarian Aid Fund . (b) Use of seized Russian assets All Russian assets seized by the United States, including seized Russian Central Bank foreign reserves, shall be deemed forfeited, and the Secretary of the Treasury shall liquidate such assets and deposit the resulting funds into the Ukrainian Humanitarian Aid Fund. (c) Use of Fund amounts The Secretary of the Treasury may use amounts in the Ukranian Humanitarian Aid Fund for the following purposes: (1) To provide humanitarian relief to Ukrainian refugees who have fled their homes due to Russian aggression. Such relief may be made directly to member nations of the European Union who have taken in refugees from Ukraine. (2) Funding to the government of Ukraine to provide humanitarian assistance to its citizens who remain in Ukraine and security assistance, including— (A) funding to provide food, clothing, shelter, medical assistance, and other forms of relief the Secretary determines to be appropriate; (B) funding to rebuild damaged or destroyed infrastructure; and (C) security assistance funding needed to defend from Russian aggression, where the determination of the amount of such funding is made jointly by the Secretary of the Treasury and the Secretary of Defense.