Seizure of Russian Assets Also Passed.
(b) Seizure or transfer of assets.—
(1) SEIZURE OF RUSSIAN AGGRESSOR STATE SOVEREIGN ASSETS.—On and after the date that is 30 days after the President submits to the appropriate congressional committees the certification described in subsection , the President may seize, confiscate, transfer, or vest any Russian aggressor state sovereign assets, in whole or in part, and including any interest or interests in such assets, subject to the jurisdiction of the United States for the purpose of transferring those funds to the Ukraine Support Fund established under subsection (d).
(2) VESTING.—For funds confiscated under paragraph (1), all right, title, and interest shall vest in the United States Government, provided that no use of those funds other than the use of those funds consistent with subsection (f).
(3) LIQUIDATION AND DEPOSIT.—The President shall—
(A) deposit any funds seized, transferred, or confiscated under paragraph (1) into the Ukraine Support Fund established under subsection (d);
(B) liquidate or sell any other property seized, transferred, or confiscated under paragraph (1) and deposit the funds resulting from such liquidation or sale into the Ukraine Support Fund; and
(C) make all such funds available for the purposes described in subsection (f).
Text - H.R.8038 - 118th Congress (2023-2024): 21st Century Peace through Strength Act | Congress.gov | Library of Congress
Last edited by Ryuu96 - on 20 April 2024