CONGRESSMAN JOE MORELLE INTRODUCES BIPARTISAN LEGISLATION TO PROVIDE REPARATIONS TO UKRAINE
Bill would use frozen Russian assets to fund the rebuilding and revitalization of Ukraine
(Washington, D.C.) — Today, Congressman Joe Morelle introduced the bipartisan Reparations for Ukraine through Sovereign Nation Support and Integration (RUSSIA) Act. The legislation, authored by Morelle, will allow for frozen assets of the Central Bank of the Russian Federation to be sold and used to help pay for the rebuilding of Ukraine.
“Over the past year, we have seen the tremendous courage of the Ukrainian people on full display as they combat unimaginable challenges, and it’s vital we continue to support them during their time of need,” said Congressman Joe Morelle. “I’m proud to author and introduce this common-sense legislation that will provide critical resources and aid for Ukraine while making Russia foot the bill. I look forward to working with my colleagues to advance this legislation and reaffirm our staunch commitment to supporting Ukraine in their fight for self-determination.”
The RUSSIA Act calls on the Biden Administration to form an agreement between the U.S. and other countries with frozen assets belonging to the Central Bank of the Russian Federation. The agreement would require these countries to determine the total cost of damages resulting from Russia’s invasion of Ukraine, consolidate these frozen assets into a single account, and use the funds to reconstruct Ukraine following the conclusion of hostilities.
This legislation builds on numerous steps Congress has taken to support Ukraine, including appropriating $48.7 billion in military, economic, and humanitarian aid and imposing severe sanctions on Russia, Vladimir Putin, and Russian oligarchs.
For more information on the RUSSIAAct, please see the full text of the bill attached.