WASHINGTON (AP) — The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv.
That could mean another $5 billion in assistance for Ukraine, coming from Russian Central Bank holdings that have already been frozen in the United States. The seizures would be carried out under provisions of the REPO Act, short for the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, that were incorporated into the aid bill.
But it’s not likely the U.S. will seize the assets without agreement from other members of the Group of Seven nations and the European Union.
The U.S. and its allies immediately froze $300 billion in Russian foreign holdings at the start of Moscow’s invasion of Ukraine. That money has been sitting untapped — most of it in European Union nations — as the war grinds on. But roughly $5 billion of it is located in the U.S.
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Forget what you saw in Sex and the City! Most singletons are actually introverts, study finds
The black market dealers delivering Elon Musk's Starlink to US adversaries
France to FINE patients who miss GP appointments £4.30 in bid to free up millions of slots
California congressman urges closer consultation with tribes on offshore wind
From House Sparrows to Blue Tits: The stunning birds spotted the most often in UK gardens
The Aucklanders who refuse to use food scrap bins
What REALLY happened the night of OJ Simpson and Kris Jenner allegedly hooked up in the hot tub
Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse
REVEALED: The truth about viral food influencer Eddie Abbew
Ricky Stenhouse punching Kyle Busch could lead to suspension
Travellers share snaps of the worst behaved flight passengers