US Senate Proposes Quarterly Transfer Of Frozen Russian Assets For Ukraine

A bipartisan bill has been introduced.

A bipartisan group of US senators has introduced a bill that would oblige Washington to regularly transfer frozen Russian assets in the US to Kiev.

This was reported by RBC-Ukraine with reference to the US Senate Foreign Relations Committee.

According to the document, it is proposed to amend laws signed by the 46th President of the United States Joe Biden in 2024 that allow the U.S. government to seize frozen Russian assets and provide military aid to Ukraine.

Lawmakers from both parties believe that the administration in Washington should begin transferring these funds to Kiev every 90 days. The U.S. Secretary of State is expected to disburse at least $250 million to Ukraine during that period.

The bill also calls for the administration in Washington to "actively and consistently pursue diplomatic efforts to persuade" other countries to also begin using at least 5 percent of frozen Russian assets to benefit Ukraine.

U.S. lawmakers estimate that this should apply to about $15 billion initially. The senators insist that other countries should also transfer funds to Kiev at least once every 90 days.

In addition, the senators want to require the U.S. administration to file a report on the amount of Russian assets, including those frozen outside the United States.

The amounts in question

The European Union, Canada, the United States and Japan have frozen about $300 billion in Russian assets since the start of Russia's full-scale invasion. Of that amount, about 5-6 billion are held in the U.S., while most are held in Europe, particularly on the Euroclear international platform in Belgium, where $210 billion is deposited.

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