Some have argued that the liquidated assets should go to Ukraine’s reconstruction while others have pointed toward bolstering the country’s troubled war effort. Legal barriers and lobbying from opponents have so far held up the transfer of funds to Ukraine. At the same time, Kyiv’s allies struggle to fund the war-torn country. Proponents have cited the assets as a clear solution. The bill overcomes the main legal concern, Russia’s sovereign immunity, by paving the way for the Biden administration to confiscate the assets due to Russia’s violation of international law. However, while the bill shows Washington’s support for repurposing Russian assets in response to Moscow’s illegal invasion of Ukraine, it does not guarantee confiscation of the assets. This is a decision for President Joe Biden.

Content Original Link:

https://kyivindependent.com/explaining-washingtons-repo-act-that-could-kick-start-the-confiscation-of-frozen-russian-assets/