To expand the categories of forfeited property available to remediate harms to Ukraine from Russian aggression, and for other purposes.
About This Bill
Committee
Latest Action · January 25, 2024
Referred to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill expands the government's ability to use forfeited property seized from Russian oligarchs and entities to help Ukraine recover from Russian aggression. Specifically, it broadens the types of property the Attorney General can transfer for Ukraine's benefit to include assets belonging to anyone whose property has been blocked by U.S. sanctions, as well as property involved in violations of export controls or sanctions related to Russia, Belarus, and Russian-occupied Ukrainian regions. The legislation covers property connected to various U.S. sanctions programs established since 2014, including those targeting Russian cyber activities and recent aggression against Ukraine. The bill requires the Attorney General to submit a plan within 30 days on how to use this authority and mandates the State Department to provide Congress with progress reports every six months on how the forfeited property is being used to remediate harms to Ukraine. No specific funding amount is allocated in the bill, as it works with existing forfeited assets rather than appropriating new funds.
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