What Happened?

Russian government money frozen in U.S. banks could end up paying for Ukraine’s war effort, and a Ukrainian American group doubled its lobbying to make that happen. Razom for Ukraine and an outside firm it hired reported $160,000 in lobbying costs for July through September, up from around $80,000 the quarter before, according to their federal lobbying reports and a Legis1 review of the group’s disclosures. ​

Razom reported $110,000 for its own staff, and the firm, Forward Global, reported $50,000. Until this spring, Razom’s own reports had been running at about $10,000 a quarter. Federal rules round these figures to the nearest $10,000.

Razom’s summer report lists several bills, including:

  • PEACE Act: would make the Treasury Department seize Russian government money held by U.S. banks and cut off foreign banks that do business with sanctioned Russians.
  • Lindsey O. Graham Sanctioning Russia and Iran Act: would sanction Russian leaders and banks and allow tariffs of up to 100% on the biggest buyers of Russian oil and gas.
  • SABER Act: would let Ukraine use money in an existing U.S. fund for seized Russian assets to buy weapons.

Why Does it Matter to Me?

The PEACE Act is closest to a House vote. The House Financial Services Committee approved it 53 to 1 in July 2025, and it has been on the House calendar since Oct. 3, 2025, Ripon Advance reported. Within 90 days of becoming law, the bill says, Treasury would have to move the frozen Russian money into a U.S. fund set up to help Ukraine.

The Senate already passed the Graham sanctions bill 86 to 11 on Aug. 7, sending it to the House, CBS News reported. The SABER Act sets no new spending, so any weapons it pays for would come from Russian money already in that fund, according to Legis1.

Both Sides, Now

Supporters, including the American Coalition for Ukraine, point to the PEACE Act’s 53 to 1 committee vote and want it brought to the floor, according to Legis1. A growing number of legal experts and political leaders argue that taking Russia’s central bank money for Ukraine is lawful, a European Parliament research briefing noted.

Opponents raise legal questions. The same briefing says that money is protected under international law by a principle called state immunity, and that experts disagree on whether taking it is allowed. Russia’s central bank has vowed to fight any such move in court and sued Euroclear, the Belgian firm that holds much of Russia’s frozen money in Europe, in a Moscow court Dec. 12, 2025, The Moscow Times reported.

What Happens Next?

The PEACE Act still needs votes in both the House and Senate, and the Graham sanctions bill needs House approval before it can reach the president. House Democrats including Reps. Gregory Meeks (D-NY) and Don Beyer (D-VA) have called the Senate bill’s current text unacceptable, CBS News reported, objecting to its broad presidential waiver and tariff powers. This session of Congress ends Jan. 3, 2027, and any bill that hasn’t become law by then has to start over.

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