A bill to authorize the confiscation of assets of the Russian Federation and the use of such assets to offset costs to the United States of assistance to Ukraine.

Bill: 118-s-536
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2023-02-27
Policy area: International Affairs
Latest action: action_date: 2023-02-27
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2023-02-27
action_desc: Introduced in Senate
text: <p>This bill requires the President to seize Russian government funds that are subject to U.S. jurisdiction. The confiscated funds must be deposited in the Treasury to offset the costs of FY2023 emergency supplemental appropriations that were provided for assistance in Ukraine.</p>

tv_txt: II 118th CONGRESS 1st Session S. 536 IN THE SENATE OF THE UNITED STATES February 27, 2023 Mr. Daines (for himself and Mr. Cramer ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To authorize the confiscation of assets of the Russian Federation and the use of such assets to offset costs to the United States of assistance to Ukraine.

1. Confiscation of assets of Russian Federation; use to offset costs to United States of aid to Ukraine (a) In general The President shall— (1) confiscate, through instructions or licenses or in such other manner as the President determines appropriate, funds of the Government of the Russian Federation that are subject to the jurisdiction of the United States; and (2) deposit funds confiscated under paragraph (1) in the general fund of the Treasury to offset the costs of amounts appropriated by any Act making emergency supplemental appropriations for assistance for the situation in Ukraine for the fiscal year ending September 30, 2023. (b) Vesting All right, title, and interest in funds confiscated under subsection (a) shall vest in the Government of the United States.