S 3838
Asset Seizure for Ukraine Reconstruction Act
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- Passed House
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- Became Law
Bill overview
This bill, the Asset Seizure for Ukraine Reconstruction Act, would allow the President to confiscate assets of certain Russian individuals and entities if a national emergency related to Russia's invasion of Ukraine is declared. These assets, valued at over $2 million and linked to corruption or support for Vladimir Putin's regime, would be subject to U.S. sanctions. The funds and proceeds from the sale of these assets would be used to support Ukraine through reconstruction, humanitarian aid, military assistance, refugee support, and cybersecurity initiatives. The bill also authorizes rewards for information leading to the seizure of these assets and includes a sunset provision after two years.
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