A bipartisan bill recently introduced by U.S. Rep. Peter Meijer (R-MI) would allow Russian assets seized under United States sanctions to be used for humanitarian assistance in war-torn Ukraine.
“The United States must no longer turn a blind eye towards Russian oligarchs and any assets they have hidden in our country,” said Rep. Meijer.
The Yachts for Ukraine Act, H.R. 7187, which Rep. Meijer cosponsored alongside bill sponsor U.S. Rep. Seth Moulton (D-MA), would ensure that the seized Russian assets would be permanently reallocated to also provide reconstruction in Ukraine.
The value of Russian yachts alone amounts to billions of dollars, according to Rep. Meijer’s staff. The bill would apply to individuals who are oligarchs of the Russian Federation, as determined by the U.S. president, and individuals who are senior foreign political figures of the Russian Federation.
“I am proud to join this legislative effort to send yet another clear message that we intend to hold Vladimir Putin and his cronies accountable for their illegal invasion of Ukraine,” Rep. Meijer said, “and we will use every economic sanction available to economically isolate anyone who is complicit in Putin’s terror around the world.”
H.R. 7187 has been referred to the U.S. House Foreign Affairs Committee for consideration.