Washington, D.C. – This week, U.S. Senators Michael Bennet (D-Colo.) and Rob Portman (R-Ohio) introduced the bipartisan Repurposing Elite Luxuries Into Emergency Funds (RELIEF) for Ukraine Act to require the Department of Justice (DOJ) to direct any funds resulting from the disposal of seized Russian assets to support Ukrainian refugees and reconstruction.
The RELIEF for Ukraine Act requires the DOJ to allocate funds from the disposal of seized Russian into a new Ukraine Relief Fund, which may be used to support the safety, health, and wellbeing of Ukrainian refugees, along with the general reconstruction and recovery of Ukraine in areas not controlled by the Russian Federation.
Here’s what they’re saying about the RELIEF for Ukraine Act:
Fox 31 Denver: Bennet introduces RELIEF bill to support Ukraine
Colorado Senator Michael Bennet is working with Ohio Republican Senator Rob Portman on the bipartisan RELIEF for Ukraine Act.
RELIEF stands for “Repurposing Elite Luxuries into Emergency Funds.” The act would require the Department of Justice to administer money from seized Russian assets to Ukrainian relief funds.
This comes after Attorney General Merrick Garland initiated the KleptoCapture task force to seize assets of individuals and entities violating U.S. sanctions against Russia.
Axios: Republican and Democratic senators seek to repurpose Russian assets for Ukraine aid
Sens. Michael Bennet (D-Colo.) and Rob Portman (R-Ohio) are introducing a bill to repurpose funds from seized Russian assets for a relief fund benefitting Ukrainian refugees and Ukraine’s reconstruction, Axios has learned.
Why it matters: The bipartisan effort is another sign Congress is keeping close tabs on the blizzard of sanctions imposed on Russia by the Biden administration. In this case, it’s also taking the next step to clarify who should benefit and how.
The Hill: Bennet, Portman introduce bill to use seized Russian assets for Ukrainian relief
Sens. Michael Bennet (D-Colo.) and Rob Portman (R-Ohio) on Tuesday unveiled a bill to require the Department of Justice to direct any funds resulting from the sale of seized Russian assets to support Ukrainian refugees and reconstruction.
The Repurposing Elite Luxuries Into Emergency Funds for Ukraine Act, or Relief for Ukraine Act, would require the Justice Department to direct funds from the liquidation of seized Russian assets to a new Ukraine Relief Fund, which will be administered by the State Department and the U.S. Agency for International Development.
Wall Street Journal: Bill Would Require Seized Oligarchs’ Assets to Benefit Refugees, Reconstruction
A bipartisan pair of senators introduced legislation Tuesday that would require the Justice Department to use any funds earned from seizure of Russian assets to aid Ukrainian refugees and the country’s reconstruction.
The legislation, Repurposing Elite Luxuries Into Emergency Funds (Relief) for Ukraine Act, follows an announcement from Attorney General Merrick Garland this month that allows the DOJ to track down and seize assets from Russian oligarchs.
If passed, the funds earned from sales of assets—such as luxury real estate, private jets and yachts—would be directed into a fund that would be managed by the State Department.
“Our bill makes Putin and Russian oligarchs pay the price by ensuring that funds from their seized assets go directly to the Ukrainian people to support them through many difficult years ahead of resettlement, reconstruction, and recovery,” said Sen. Michael Bennet (D., Colo.) in a statement. He introduced the legislation with Sen. Rob Portman (R., Ohio).
Yahoo News: US lawmakers have a new idea for what to do with seized Russian assets
‘Our bill makes Putin and Russian oligarchs pay the price’
The intentions of the bill from Portman and Bennet are clear: If enacted, it would create a new Ukraine Relief Fund administered by the Department of State.
“Our bill makes Putin and Russian oligarchs pay the price by ensuring that funds from their seized assets go directly to the Ukrainian people to support them through many difficult years ahead of resettlement, reconstruction, and recovery,” Bennet said in a statement.
To be sure, Ukraine could use the extra money.