Yesterday at 20:05
A bipartisan group of U.S. senators has introduced amendments to the REPO Act for Ukraine, proposing to repurpose frozen Russian assets held in the United States and transfer the proceeds to Ukraine every 90 days, Ukrinform reports. The proposal was presented to the Senate Foreign Relations Committee on September 19.
The amendments were introduced by Democrats Jeanne Shaheen, Sheldon Whitehouse, Richard Blumenthal and Republicans Jim Risch, Chuck Grassley, and Lindsey Graham. The legislation builds on the REPO (Recovery of Economic Prosperity and Opportunities) Act for Ukraine, passed in April 2024.
“Russia’s illegal war in Ukraine has caused staggering destruction and loss of life, and Putin must be held accountable,” said Senator Shaheen. “Repurposing frozen Russian sovereign assets is a necessary step to provide Ukraine with resources for self-defense and rebuilding its communities. Importantly, this approach allows continued support for Ukraine without additional cost to American taxpayers.”
Senator Whitehouse added that frozen Russian sovereign assets are the most appropriate target for providing Ukraine with necessary support for defense and recovery.
“REPO 2.0 will encourage the Trump administration and our G7 allies to begin confiscating frozen Russian assets and distributing them to Ukraine on a set schedule, increasing economic pressure on Putin,” Whitehouse said.
Senator Blumenthal emphasized that having a clear schedule for asset transfers will give Ukraine confidence in ongoing support and continue holding financial sponsors of the Putin regime accountable.
Key provisions of the REPO 2025 Act include:
- Transferring all frozen Russian sovereign assets under U.S. jurisdiction—approximately $5 billion—to an interest-bearing account.
- Encouraging the U.S. President to transfer at least $250 million every 90 days from this account to Ukraine.
- Encouraging the Secretary of State and Treasury Secretary to conduct a diplomatic campaign to persuade U.S. allies to begin redistributing at least 5% (~$15 billion) of their frozen Russian sovereign assets to Ukraine every 90 days.
The senators noted that in October of last year, the U.S. and G7 allies pledged a $50 billion collective loan to Ukraine, to be repaid from frozen Russian sovereign assets held in Belgium. The U.S. contributed $20 billion from Russian revenue to this loan in December, at no cost to taxpayers.
The move follows broader U.S. efforts to expand sanctions against Russia’s shadow fleet and strengthen support for Ukraine’s defense and reconstruction.
