He wants U.S. Congress to approve an additional $33 billion dollars in security, humanitarian and economic assistance for Ukraine
He wants U.S. Congress to approve an additional $33 billion dollars in security, humanitarian and economic assistance for Ukraine
In a step to redirect Russian wealth towards the rebuilding of Ukraine, some of whose cities have been decimated by sustained battering from invading Russian forces since the end of February, U.S. President Joe Biden announced he would propose that U.S.- based assets of Russian oligarchs be seized and directed towards Ukraine. Mr. Biden’s proposal was announced as part of a larger announcement that he was asking the U.S. Congress to approve an additional $33 billion dollars in security, humanitarian and economic assistance for Ukraine.
“We’re going to seize their yachts or luxury homes and the other ill begotten gains of Putin’s kleptocracy,” Mr. Biden said, as he delivered remarks at the White House on Thursday morning.
The President’s proposal involves the seizure of U.S.-based assets of sanctioned Russians, connected to a specific activity deemed unlawful. The process, which will involve the U.S. Treasury, State and Justice Departments, will also seek powers to expand the list of assets potentially available for forfeiture to include property that is used to assist in the evasion of sanctions. Current U.S. law only permits the forfeiture of proceeds from sanctio
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