US senators propose to transfer seized Russian assets to Ukraine

Democratic Senator Michael Bennett of Colorado and Republican Senator Rob Portman of Ohio have drafted a bill that proposes to use the proceeds from confiscated Russian assets to help Ukraine, Axios reports.

It is assumed that the money will go to a fund to help Ukrainian refugees and the reconstruction of Ukraine, which will be managed by the State Department and the US Agency for International Development.

“Ukraine is going through the worst refugee crisis since World War II – they need our help,” Portman said. According to the senator, one way to help is "to move from freezing the assets of Russian oligarchs and wealthy citizens to confiscating their assets and providing these funds to the Ukrainian people."

Bennett, for his part, said the bill would make "[Russian President Vladimir] Putin and the Russian oligarchs pay" as it ensures that "the funds from their confiscated assets go directly to the people of Ukraine."