Sec. ?.
378 words·~2 min read·
/bill/119/sres/421/is/section-A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
That the Senate— determines that the Russian Federation bears full financial responsibility for the harm caused by its unlawful war of aggression against Ukraine, and the assets of the Russian Federation should be used to satisfy that responsibility; remains steadfast in its support for the sovereignty, independence, and right to self-defense of Ukraine, and believes all available diplomatic, legal, and economic tools should be leveraged to hold the Russian Federation accountable; recommends that the executive branch advocate internationally that— the violation of international law by the Russian Federation removes its entitlement to sovereign immunity protections over assets located abroad, under the doctrine of countermeasures; international law and precedent provide a legal basis for permanent confiscation of state-owned assets in response to grave violations of the international order; and the seizure of assets is a legitimate means of supporting the reconstruction of Ukraine and deterring future acts of aggression by other states; strongly urges all countries with sovereign assets of the Russian Federation under their jurisdiction— to pursue harmonization of domestic legal authorities to provide their governments with seizure powers equivalent to the powers granted by the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act ( 22 U.S.C. 9521 note;
Public Law 118–50 ); to partner with the United States to develop and implement a multilateral sovereign asset repurposing fund that facilitates the lawful seizure and repurposing of Russian sovereign assets for the benefit of Ukraine; and to confiscate such assets and allocate them to Ukraine in tranches of not less than $10,000,000,000 United States dollars per month until the funds are expended to support the defense of Ukraine against the Russian Federation; and calls on the President, the Secretary of State, and the Secretary of Defense to pressure any country with sovereign assets of the Russian Federation within their jurisdiction to confiscate such assets by— prioritizing the sale of United States weapons to countries that are found to have sovereign assets of the Russian Federation within their jurisdiction, and which have seized and distributed the assets to a fund for Ukraine; and deprioritizing the sale of United States weapons to countries that are found to have sovereign assets of the Russian Federation within their jurisdiction and have not seized and distributed the assets to a fund for Ukraine.
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