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118th Congress International Affairs

H.R. 4175: REPO for Ukrainians Act

Introduced

  1. Introduced (completed)Jun 15, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Jun 15, 2023

This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance).

Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill.

The Ukraine Support Fund shall be used by the Department of State to compensate Ukraine for damages caused by the Russian invasion. The Ukraine Support Fund may also support an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people.

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The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners.

Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

91

Bipartisan support.

Who scored on this bill

18 points earned
  1. 1Michael McCaul R-TX SponsorDrew cross-party cosponsors, introduced, reached a cosponsor milestone4 events+18
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Michael McCaul

History

  1. Jun 15, 2023Introduced in the House by Michael McCaul.
Show the full action history (4 actions)
  1. Nov 7, 2023Committee Consideration and Mark-up Session Held
  2. Nov 7, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.
  3. Jun 15, 2023Introduced in House
  4. Jun 15, 2023Referred to the Committee on Foreign Affairs, and in addition to the Committees on Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.