The US House of Representatives has approved a bill allowing blocked Russian assets to be directed to aid programs for Ukraine, including its restoration. This applies to assets worth $2 million or more, including property of Russian energy companies. The law will also affect assets obtained through cooperation (support) with the Russian authorities. 417 congressmen supported the bill, eight opposed it.
The seized funds are supposed to be resold, and the proceeds will be used for military, humanitarian assistance, as well as the restoration of Ukraine's infrastructure and assistance to Ukrainian refugees in other countries.
This is not the first such news: Canadian Foreign Minister Joly announced Canada's intention to “confiscate the assets of Russian individuals and legal entities under sanctions, using them to pay compensation to victims of the conflict in Ukraine".
In addition, according to Nezygar, arms supplies promised by the US administration for a total amount of at least $2 billion will be paid from Russia's frozen gold and foreign exchange reserves.
A collective decision is also being prepared by the United States and its allies to allocate significant amounts of assistance from the seized assets of the Russian state, individuals and legal entities at the request of Ukraine in the amount of about $ 2 billion a month in addition to the cost of arms supplies.
In addition, yesterday it became known that Switzerland is also introducing a ban for citizens and residents of Russia to register trusts in the country. Another ban concerns the export of banknotes and the sale of securities to citizens of Belarus and Russia. And last week, Europe announced that it would freeze trusts in which Russians keep their assets.
Brussels issued a regulation prohibiting beneficiaries and trustees from Russia from creating or registering structures in the EU. It is not only about citizens, but also about those who live in the country. They will also no longer be able to use the services of European managers.
The restrictions will take effect May 10. After this date, the remaining assets will be blocked, as European managers will be deprived of the right to dispose of them in the interests of the Russians.
Thus, experts state, the ring around Russian money and property continues to shrink.