Palmetto State News

WASHINGTON – U.S. Senators Lindsey Graham (R-South Carolina) and Joe Manchin (I-West Virginia), along with U.S. Representatives Brendan Boyle (D-Pennsylvania), Bill Keating (D-Massachusetts), and Brian Fitzpatrick (R-Pennsylvania), have called on Congressional leaders to bring the Transferring Illicit Assets to Ukraine Act to the Senate and House floors.

The proposed legislation aims to expand the authority of the U.S. Department of Justice (DOJ) to transfer proceeds from forfeited Russian assets, due to sanctions or export control violations, directly to Ukraine. According to the lawmakers, this measure would not incur any costs for U.S. taxpayers while aiding Ukraine in its ongoing conflict.

"DOJ has seized hundreds of millions of dollars of illicit assets that can be immediately transferred to Ukraine if authorized by Congress," they stated. "This authority is distinct from – but would complement – the agreement struck by G7 leaders to use Russia’s sovereign assets as collateral for assistance to Ukraine. As Vladimir Putin intensifies his illegal invasion, we must use every available tool – particularly those with no cost to U.S. taxpayers – to support our Ukrainian allies."

The lawmakers further emphasized, "Supporting Ukraine is the best investment to preserve the rules-based international order Americans fought and died to create. We strongly supported providing additional military aid for Ukraine as well as the REPO for Ukrainians Act, which is already being implemented. Now, Congress must also provide simple clarification that seized Russian oligarch assets may also be transferred to Ukraine."

The Transferring Illicit Assets to Ukraine Act includes provisions that would:

- Allow the DOJ to transfer proceeds from assets forfeited due to sanctions or export control violations related specifically to Russia's invasion of Ukraine.

- Require a report from key officials including the Attorney General, Secretary of Treasury, and Secretary of State outlining plans for utilizing this new authority.

- Mandate semiannual reports on how this authority benefits Ukraine.

Initially passed by the Senate Foreign Relations Committee in January 2024 as an amendment under the REPO for Ukrainians Act, this legislation is co-sponsored by Senators Richard Blumenthal (D-Connecticut), Mike Rounds (R-South Dakota), Lisa Murkowski (R-Alaska), Rick Scott (R-Florida), James Risch (R-Idaho), and Chris Coons (D-Delaware).