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Biden asks Congress to allow access to the assets of Russian oligarchs to hand over to Ukraine

After being sold, these assets can support Ukraine.

Biden asks Congress to allow access to the assets of Russian oligarchs to hand over to Ukraine
Photo: EPA/UPG

US President Joe Biden is appealing to Congress to gain access to the proceeds of the crime of Russian oligarchs.

Biden announced these assets to be transferred to Ukraine during a speech on April 28.

"This bill will expand the powers of our law enforcement agencies and allow us to confiscate the assets of these Russian kleptocrats. And ensure that after the sale of assets, the funds would be directed to help Ukraine," he said.

Yesterday the US House of Representatives passed the Bill HR 6930, which called on the US President to sell the frozen assets of Russian sanctioned legal entities and individuals and use the funds to provide additional military and humanitarian assistance to Ukraine.

The law is not binding, but its support by a majority in Congress reflects the desire of the two parties on Capitol Hill for the US president to take a more aggressive stance on sanctions.

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