This bill would authorize the President to seize Russian Central Bank assets that are currently frozen in the United States and redirect them to support Ukraine's defense against Russia's invasion. The legislation establishes an International Response Fund to hold confiscated assets, with the money available to purchase military equipment and supplies for Ukraine or to reimburse agencies for materials already provided to Ukraine. The President would be required to report to Congress every 90 days on how much money from the fund has been spent and what materials have been purchased. The bill applies to assets already blocked under existing executive orders related to Russia's invasion of Ukraine, and does not affect other presidential authorities or create obligations for other countries to repay loans they made to Ukraine.
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