Golden, Colleagues Introduce Legislation to Provide War Reparations to Ukraine

Statement

Today, Congressman Jared Golden, along with Reps. Joe Morelle (NY-25), Marcy Kaptur (OH-09), and Brian Fitzpatrick (PA-01) announced the introduction of the Reparations for Ukraine through Sovereign Nation Support and Integration (RUSSIA) Act. The legislation 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.

"It's not enough to cut Russian banks and oligarchs off from their assets," said Congressman Golden. "We should use the Russian assets we have seized to begin to rebuild Ukraine and help the brave Ukrainian people dig out of the unprovoked death and destruction that Putin has unleashed on their country. As a leader in the international response to Russian aggression in Ukraine, the U.S. should continue to find new ways to apply economic pressure to Putin and to provide support to the Ukrainian people. This bill accomplishes both goals, and I'm proud to work with both parties to introduce it in the House."

"Countries around the world--including the United States--currently hold billions of dollars in frozen assets from Russia's Central Bank, all of which can and should be used to benefit the Ukrainian community during their time of need," said Congressman Joe Morelle. "I'm proud to introduce this common-sense legislation that will provide critical resources for the people of Ukraine and make Russia foot the bill. I look forward to working with mycolleagues to advance this legislation and continue to demonstrate our staunch commitment to supporting Ukraine."

"I am pleased to join my colleagues in this bipartisan effort to assist the people of Ukraine in rebuilding their homes and infrastructure," said Rep. Brian Fitzpatrick. "Russia has caused immeasurable pain and destruction to Ukraine. Using the funding from Russian frozen assets for reconstruction will allow Ukrainians the opportunity to heal and rebuild. This is a small step towards securing justice for Ukraine."

The RUSSIA Act instructs 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 previous steps Congress has taken to support Ukraine, including providing military, economic, and humanitarian aid and imposing severe sanctions on Russia, Vladimir Putin, and Russian oligarchs.

You can find more information on the RUSSIA Act here.

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