The Foreign Affairs Committee of the US House of Representatives supported the bill on the transfer of Russian assets to Ukraine. This is evidenced by the voting results, RIA Novosti writes.
As specified, the committee approved the bill with a result of 40 votes in favor and two against. According to the text of the document, the Secretary of State is given the authority to provide additional assistance to Kyiv using assets confiscated from the Bank of Russia or other foreign assets of the country.
However, as this bill suggests, the decision on the confiscation of sovereign Russian assets that are under the jurisdiction of the States will be made by the American leader. Next, the confiscated funds are transferred to a special “Ukraine support fund.”
The funds will be available to the Secretary of State for the purpose of “compensating Ukraine for the damage suffered.” In particular, we are talking about the reconstruction and restoration of cities, humanitarian support for the population.
Earlier, Politico wrote that the European Union’s initiative to use Russia’s frozen assets to restore Ukraine faced concerns from Belgium and Luxembourg.
Thus, a number of European countries, including France, Germany and Belgium, fear that the transfer of Russian assets to Ukraine will lead to distortions in financial markets and weaken the position of the euro as a reserve currency. Belgium and Luxembourg bear guarantees that there will be no legit or fiscal pitfalls for them.
