In June, US senators introduced the Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act, which will allow the seizure and transfer of Russian assets to Kiev. The new legislation would give full authority to US President Joe Biden to transfer US-based frozen Russian assets to Kiev regime.
The US administration welcomes the bill "in principle," the NSC was quoted as saying by Bloomberg, adding that it "would provide the authority needed for the executive branch to seize Russian sovereign assets for the benefit of Ukraine."
At the same time, US authorities would like to coordinate their actions with partners from other G7 countries to reduce risks of undermining foreign investors' trust in the US financial system, the report said.
In late December, the New York Times reported that the United States and its European allies renewed discussions to go after $300 billion in frozen Russian assets and use them to aid Ukraine.
Russia's Stance on Asset Theft
Moscow has repeatedly stressed that any attempt to confiscate Russian frozen assets would violate international law and will trigger legal response from Russia.
"Those who are trying to initiate this, and those who will implement it, must understand that Russia will never leave those who did this alone. And it will constantly exercise its right to a legal battle, internationally, nationally or otherwise. And this, of course, will have — both Europeans and Americans understand this very well — it will have legal consequences for those who initiated and implemented it," Kremlin spokesman Dmitry Peskov said commenting on the issue.
Last year, Russian President Vladimir Putin dubbed the West’s asset seizure an “unseemly business,” and stressed that “stealing other people’s assets has never brought anyone good.”