United States Congress to introduce a bill to confiscate russian assets
The United States wants to find a way to finance Ukraine's recovery without American taxpayers
US senators have prepared a bill that would give Joe Biden the right to confiscate russian state assets and transfer them to Ukraine. Both parties are stepping up pressure on the presidential administration and US allies to find ways to pay for the reconstruction of the war-torn country with russian money, not American taxpayers.
Source. This was reported by the Financial Times.
The bill is to be introduced on Thursday by Jim Risch, the most senior Republican representative on the Senate Foreign Relations Committee, and Democrat Sheldon Whitehouse of the Judiciary Committee.
The document places "financial responsibility for Ukraine's recovery" on russia and gives the US president the right to "confiscate" frozen russian assets in the US, including the reserves of the Central Bank of russia, for prompt transfer to Ukraine.
The senators also call on Biden to initiate the creation of a "joint international compensation mechanism" with foreign partners as an additional way to transfer seized russian capital to Kyiv.
Meanwhile, the World Bank estimated at the end of March that the cost of rebuilding Ukraine would be $411 billion over 10 years. This amount was announced before the russians blew up the Kakhovka hydroelectric dam.
An international conference on Ukraine's recovery will be held in London in June.
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