World

US Senate authorizes confiscation of Russian assets — RT World News


Lawmakers agreed to the measure as part of a $1.7 trillion spending package, allocating an additional $44 billion to Kiev

The US Senate has given the green light to allow the administration of President Joe Biden to seize US assets of Russian officials, businessmen and organizations and send the proceeds to Ukraine. South Carolina Republican Senator Lindsey Graham said the change in the law would elevate “billions of dollars” for Kyiv.

The amendment was proposed by Senators Graham and Rhode Islander Sheldon Whitehouse, a Democrat. It passed unanimously and was added to a $1.7 trillion aggregate spending package, which the Senate then passed with 68 votes out of 29, comfortably passing the 60-vote threshold. necessary to promote the law.

Amendment changes U.S. law to allow the Department of Justice to sell property of “oligarchs…and other sanctioned entities,” Graham explained before the vote. “I hope over time, billions of dollars in confiscated assets will be sent to help Ukraine.” South Carolina lawmaker wrote on Twitter afterward.

The Ministry of Justice has call on Congress amending U.S. law so that money confiscated from sanctioned Russians could be given to Ukraine.

Graham and Whitehouse have been one of the biggest anti-Russian voices on Capitol Hill, since before Moscow launched its military campaign in Ukraine in February. Graham travel traveled to Ukraine in 2016 to show support for Kiev when its forces shelled civilians in Donetsk and Lugansk, and in recent months have called for Assassination of Russian President Vladimir Putin.

The United States has so far sanctioned 1,097 Russian entities and 1,331 individuals, according to data from the Atlantic Council, an advisory organization funded by NATO and Western arms manufacturers. The total value of assets held by the United States belonging to these targets is unclear.

The United States and its allies have also frozen assets belonging to Russia’s central bank, totaling about $300 billion. However, EU and US officials have so far not found a legal way to seize these assets, which are largely made up of foreign currency.

“A large portion of our wealth has been basically stolen by specific Western countries,” Kremlin spokesman Dmitry Peskov stated in October. “These are completely illegal actions, they go against international law.”

The spending bill passed next Thursday will move to the House of Representatives, where it is expected to be passed by the chamber held by Democrats. A handful of Republicans vowed to oppose the bill and punish Republican lawmakers who voted for it.

You can share this story on social media:

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button