House of Representatives approved a bill on the use of Russian assets

This was reported on the Congress website.

The bill must now be approved by the upper house of Congress, the Senate.

Earlier, the Parliamentary Assembly of the Council of Europe unanimously adopted a resolution calling for the transfer of frozen Russian assets to rebuild Ukraine.

More about the frozen assets of the Russian Federation

At the end of January 2024, the Ministry of Justice of Ukraine announced that the EU was accumulating frozen Russian assets and could transfer excess profits from them to Ukraine. It was about 260 billion euros worth of Russian assets, 210 of which are frozen in Belgium and Luxembourg.

On March 19, Bloomberg reported that the European Union had prepared a law that would allow Ukraine to receive profits from frozen Russian assets as early as July.

Reuters wrote that the head of European diplomacy, Josep Borrell, plans to propose that EU countries use 90% of the proceeds from Russian assets frozen in the EU for military support of Ukraine.

Russian President Vladimir Putin's spokesman, Dmitry Peskov, said that the withdrawal of income from frozen Russian assets to finance Ukraine would lead to “inevitable losses” for the European Union and threatened “decades of litigation”.