Bill Advances to Seize Russian Assets for Ukraine War

“A U.S. Senate committee approved legislation on Wednesday that would help set the stage for the United States to confiscate Russian assets and hand them over to Ukraine for rebuilding after the destruction of the nearly two-year-long war,” Reuters reports.

“If it were to pass the full Senate and House of Representatives and be signed into law by President Joe Biden, as expected, the act would pave the way for Washington’s first-ever seizure of central bank assets from a country with which it is not at war.”