WH: Sell Russian Assets, Use Proceeds For Ukraine

April 28, 2022 Russia, United States

The White House unveiled a proposed legislative package on Thursday that would allow the federal government to sell assets seized from Russian oligarchs over the Kremlin’s invasion of Ukraine and to use the proceeds for military and humanitarian aid to Ukraine.

The U.S. has already seized million of dollars in assets from wealthy Russians with close ties to President Vladimir Putin. It and other governments are hoping that financial pressure on those individuals will translate into political pressure on Putin, potentially curtailing his power.

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NEW: The White House is proposing a plan to sell seized Russian yachts and use the proceeds for Ukraine aid https://t.co/6PKt3mr0Kr

— Axios (@axios) April 28, 2022