The US is now allowed to seize Russian state assets. How would that work?
WASHINGTON (AP) — The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv.
That could mean another $5 billion in assistance for Ukraine, coming from Russian Central Bank holdings that have already been frozen in the United States. The seizures would be carried out under provisions of the REPO Act, short for the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, that were incorporated into the aid bill.
But it’s not likely the U.S. will seize the assets without agreement from other members of the Group of Seven nations and the European Union.
WHAT IS THE DIFFERENCE BETWEEN FREEZING AND SEIZING?
The U.S. and its allies immediately froze $300 billion in Russian foreign holdings at the start of Moscow’s invasion of Ukraine. That money has been sitting untapped — most of it in European Union nations — as the war grinds on. But roughly $5 billion of it is located in the U.S.
Related articles
Ohio judge to rule Monday on whether the state’s abortion ban stands
COLUMBUS, Ohio (AP) — A county judge could rule as early as Monday on Ohio’s law banning virtually a2024-05-21Protests erupt as concerns rise in ROK, Philippines
ROK fishers are worried about their seafood products, as seen in this picture on Friday, after Japan2024-05-21Japan draws up whitewash plan to salvage image
Environmental activists in Seoul pour Japanese beer into a barrel resembling radioactive waste as th2024-05-21EU unveils 'remedy' for migrants
Migrants embark on a ferry in Lampedusa Island, Italy, on Sunday. About 11,000 irregular migrants ar2024-05-21Hall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car
INDIANAPOLIS (AP) — Hall of Fame outfielder Ken Griffey Jr. will drive the pace car for the 108th ru2024-05-21Xi Congratulates Felix Tshisekedi on Reelection as DR Congo's President
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment