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The U.S. House of Representatives approved the transfer of frozen Russian assets to Ukraine

20 Apr, 2024
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The U.S. House of Representatives approved the transfer of frozen Russian assets to Ukraine

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The U.S. House of Representatives has approved the transfer of frozen Russian assets to Ukraine, by the broadcast of the House of Representatives vote.

The U.S. has passed the REPO Act, which, among other things, allows the President of the United States to transfer seized Russian assets to Ukraine. According to Ukrainian Ambassador to the United States Oksana Markarova, the document stipulates that no later than 90 days after its adoption, the President of the United States must submit a report to Congress listing each individual and legal entity subject to EU and UK sanctions.

The REPO Act will allow up to $8 billion of seized Russian assets to be transferred to Ukraine.

 

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The Odessa Journal

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