This bill authorizes the U.S. government to seize and forfeit assets belonging to Russian oligarchs and entities connected to Russia's actions against Ukraine, provided the President declares a national emergency related to Russian threats to Ukraine's security. The seized assets would be made available to help reconstruct Ukraine and remediate harms from Russian aggression. The legislation expands the definition of forfeitable property to include assets of individuals and entities on U.S. restricted parties lists and those involved in violations of sanctions, export controls, or related federal offenses connected to Russia, Belarus, or Russian-occupied regions of Ukraine. The bill streamlines the forfeiture process by allowing nonjudicial civil forfeiture without certain standard limitations, and it extends the authority to use forfeited funds through Ukraine reconstruction programs for three years from enactment. The provisions would automatically expire three years after the law takes effect, though assets already seized would remain subject to forfeiture.
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