The US House of Representatives overwhelmingly passed a mostly symbolic bill urging President Biden to sell the frozen luxury assets of Russia’s sanctioned oligarchs and use the money to help Ukraine.
Source: Attorney General Merrick Garland
Properties and other assets of wealthy associates of Russian President Vladimir Putin that are seized and “forfeited” by the Justice Department are put into the department’s Assets Forfeiture Fund. The proceeds are typically used for investigative purposes, asset forfeiture operations and other expenses.
“These could go particularly in the way that we do the forfeitures, to make it easier for us to do the forfeitures. Also, the possibility of taking the money out of the forfeiture fund that we collect this way and sending it to Ukraine.”
Senator Chuck Schumer, Democrat of New York and the majority leader, is consulting with the Biden administration on the matter and would like to include a provision giving the president authority to sell off seized Russian assets in legislation to send additional aid to Ukraine, which Congress is expected to consider in the coming days.
See also: Paying for Russian gas in rubles – is a violation of sanctions, – EU Commissioner
