The US Congress has approved a bill that would use Russian assets to help Ukraine

Kostia Andreikovets

The US House of Representatives has approved a bill that would allow Russian-related assets to be used to help Ukraine. Bill HR 6930 deals with assets confiscated from Russian oligarchs and legal entities.

The New York Times writes that under this law, confiscated property and property subject to sanctions can be resold. The proceeds will be used to rebuild Ukraine, provide humanitarian and military assistance, and help Ukrainian refugees in other countries.

The law currently covers assets worth $ 2 million, including Russian energy companies.

The head of the Presidentʼs Office of Ukraine, Andriy Yermak, explained that this law is a framework and does not establish mechanisms but clearly establishes the political will of Congress and is the first important step toward the future confiscation of Russian assets in favor of Ukraine.

For the document to take effect, it must be approved by the Senate and signed by the President of the United States.