According to a document published by the Senate Foreign Relations Committee, several amendments must be made to laws signed by former President Joe Biden in 2024. These laws allow the US government to confiscate Russia's frozen assets and provide military assistance to Ukraine. According to lawmakers from both parties, the Washington administration, in particular, should begin transferring the aforementioned funds to Kiev "every 90 days." It is assumed that the top US diplomat would allocate at least $250 million to Ukraine during this period.
According to the bill, the Washington administration should "implement a robust, sustained diplomatic campaign to persuade US allies" to also start using at least 5% of frozen Russian assets in Ukraine's interests. US lawmakers estimate that this would initially amount to approximately $15 billion. Senators believe that other countries should transfer funds to Kiev at least once every 90 days, according to a report by TASS.
In addition, senators want to require the Washington administration to report on the amount of Russian sovereign assets, including frozen assets, held outside the United States.
Since the start of the special military operation, the EU, Canada, the US, and Japan have frozen approximately $300 billion in Russian assets. Of these, about $5-6 billion are in the US, with most in Europe, including $210 billion held at the Euroclear international platform in Belgium. As the Russian Foreign Ministry has warned, Moscow will take immediate action in response to the possible confiscation of its assets in the West.
MNA