The US is now allowed to seize Russian state assets. How would that work?
Time:2024-05-21 18:51:33 Source:sportViews(143)
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.
Previous:The fightback begins: Boss of London's Queen Mary University tells pro
Next:Nadal returns to Roland Garros to practice amid doubts over fitness and form
You may also like
- Tom Brady and Jay
- Oil consumption back to 2019 levels
- Jury selection in Trump hush money trial faces pivotal stretch as former president returns to court
- Feud: Capote vs The Swans review
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Sami Sheen is nearly unrecognizable at Coachella as she swaps her racy OnlyFans look for a covered
- FIRST LOOK! Celine Dion shares a raw behind
- Vietnam’s ‘Provisional National Government’ offers empty promises, lawyers say — Radio Free Asia
- What's next for Iran after death of its president in crash?