By KYIV. Nov 30 (Interfax-Ukraine) – A bill that allows the United States Department of Justice to confiscate valuable assets belonging to sanctioned Russian oligarchs and quickly transfer them to Ukraine was presented by a bipartisan and bicameral group of American parliamentarians, Ambassador of Ukraine to the United States Oksana Markarova has said.
“A bipartisan and bicameral group of members of the U.S. Congress, consisting of Senator S. Whitehouse (D), Senator L. Graham (R), Congressman J. Wilson (R) and Congressman S. Cohen (D), introduced a bill on the confiscation of assets for the restoration of Ukraine. Senator R. Blumenthal (D), Co-Chairman of the Senate Foreign Relations Committee J. Risch (R) and M. Bennett (D) have already joined as co-authors,” she said on Facebook on Thursday.
The full text of the bill is available at the link: https://tinyurl.com/e5pf5htz.
“The bill authorizes the U.S. Department of Justice to confiscate valuable assets belonging to sanctioned Russian oligarchs more quickly and transfer those assets to Ukraine. The bill repeals the existing $500,000 cap on the ability to apply the procedure for gratuitous seizure of assets of Russian oligarchs and other persons violating U.S. law. The bill also provides authority to the U.S. Department of Justice to transfer to Ukraine all funds from Russian assets confiscated by the U.S. Government (currently the Department of Justice can transfer to Ukraine only assets confiscated for violating sanctions imposed against the Russian Federation),” the ambassador said.
Markarova said that further consideration of the bill is expected and expressed hope for its speedy consideration and adoption in the U.S. Congress.
