The U.S. Department of Justice (DOJ) would be authorized to transfer more forfeited Russian assets to Ukraine under a bipartisan bill introduced on June 8 by U.S. Sen. Mike Rounds (R-SD).
“This bipartisan legislation paves an effective and efficient way for Ukraine to receive seized assets, which further strengthens their ability to fight back against Russian aggression,” Sen. Rounds said on June 9.
The Transferring Illicit Assets to Ukraine Act of 2023, S. 1905, which Sen. Rounds cosponsored alongside bill sponsor U.S. Sen. Joe Manchin (D-WV), would expand the DOJ’s existing authority to apply the proceeds of forfeited assets from any sanction or export control involving Russia or Belarus related to Russia’s invasion of Ukraine, according to a bill summary provided by the lawmakers.
“It is critical Ukraine is able to protect their country against Russia’s unjustified and illegal invasion,” said Sen. Rounds. “By providing Ukraine with the necessary tools to defend themselves, we are helping to defend democracy.”
Additionally, S. 1905 would require the United States Attorney General, U.S. Treasury Secretary, and the U.S. Secretary of State to collectively develop a report outlining a plan for using this new authority, and to produce semi-annual reports on the use of this authority for the benefit of Ukraine, the summary says.
“This bipartisan legislation will authorize the DOJ to expand its ability to seize Russian assets and send them directly to Ukraine for defense and rebuilding,” said Sen. Manchin. “I am committed to bringing this legislation across the finish line to reaffirm our long-term commitment to the Ukrainian people and our leading role in the fight to defend democracy.”
S. 1905 has been referred for consideration to the U.S. Senate Foreign Relations Committee.