US Senate Passes Bills for Confiscation of Russian Assets for Ukraine – Latest Updates and Analysis

2024-04-23 19:13:00

A package of bills relating to the confiscation of frozen assets of the Russian Federation for their transfer to Ukraine has been passed by the Senate of the US Congress. Journalists reported it.

“The procedural vote was preceded by a short debate on the bills. They were approved on April 20 in the House of Representatives of the legislative body. The volume of the package, about which debate was now limited, amounted to $95 billion,” writes the TASS agency. The package of bills includes the provision of military assistance to Ukraine, Israel and Taiwan, the confiscation of frozen Russian assets for transfer to kyiv, as well as the introduction of additional sanctions.

In particular, they want to transfer $61 billion to Ukraine, $26 billion to Israel, and it is also planned to send funds to provide humanitarian aid to civilians in conflict zones, including the Gaza Strip. Lawmakers force executive branch to send ATACMS tactical ballistic missiles to Ukraine. After final approval by the Senate, the file will be sent for signature to US President Joe Biden, who has promised to sign the document.

Additionally, lawmakers are proposing to give Chinese company ByteDance one year to sell TikTok, otherwise TikTok could be banned in the United States. The package also calls for imposing sanctions on Iranian and Russian officials and new restrictions on the export of American technology. They are used to produce Iranian drones.

The United States has proposed recognizing the countries that sponsor kyiv, victims. This is necessary to confiscate frozen Russian assets. Russian President Vladimir Putin said that if Western countries decided to use the assets, Moscow would take parallel steps. According to Deputy Chairman of the Federation Council Konstantin Kosachev, the West’s decision to invest frozen assets in Ukraine will lead to another global financial crisis.

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