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REPO for Ukrainians Act

USA118th CongressS-2003| Senate 
| Updated: 4/9/2024
James E. Risch

James E. Risch

Republican Senator

Idaho

Cosponsors (27)
Jeanne Shaheen (Democratic)Rick Scott (Republican)Mike Braun (Republican)Mazie K. Hirono (Democratic)Margaret Wood Hassan (Democratic)Katie Boyd Britt (Republican)Catherine Cortez Masto (Democratic)Jack Reed (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Lindsey Graham (Republican)Roger F. Wicker (Republican)John W. Hickenlooper (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Joe Manchin (Independent)Ted Cruz (Republican)John Kennedy (Republican)Michael F. Bennet (Democratic)John Fetterman (Democratic)John Cornyn (Republican)Peter Welch (Democratic)Chuck Grassley (Republican)Pete Ricketts (Republican)Richard Blumenthal (Democratic)Mark Kelly (Democratic)Mike Crapo (Republican)

Foreign Relations Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance). Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill. The Ukraine Support Fund shall be available to the Department of State only to compensate Ukraine for damages caused by the Russian invasion, including by providing funds to an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people. The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners. Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners.

Bill Text Versions

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2 versions available

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Timeline
Jun 15, 2023
Introduced in Senate
Jun 15, 2023
Read twice and referred to the Committee on Foreign Relations.
Nov 7, 2023

Latest Companion Bill Action

HR 118-4175
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.
Jan 24, 2024
Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
Jan 30, 2024
Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.
Jan 30, 2024
Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.
Apr 9, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
  • June 15, 2023
    Introduced in Senate


  • June 15, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • November 7, 2023

    Latest Companion Bill Action

    HR 118-4175
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.


  • January 24, 2024
    Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • January 30, 2024
    Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.


  • January 30, 2024
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.


  • April 9, 2024
    Committee on Banking, Housing, and Urban Affairs. Hearings held.

International Affairs

Related Bills

  • S 118-4438: Transferring Illicit Assets to Ukraine Act of 2024
  • HR 118-7077: To expand the categories of forfeited property available to remediate harms to Ukraine from Russian aggression, and for other purposes.
  • HR 118-4175: REPO for Ukrainians Act
Bank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightEuropeGovernment trust fundsPresidents and presidential powers, Vice PresidentsRussiaSanctionsUkraineU.S. and foreign investments

REPO for Ukrainians Act

USA118th CongressS-2003| Senate 
| Updated: 4/9/2024
Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance). Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill. The Ukraine Support Fund shall be available to the Department of State only to compensate Ukraine for damages caused by the Russian invasion, including by providing funds to an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people. The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners. Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 15, 2023
Introduced in Senate
Jun 15, 2023
Read twice and referred to the Committee on Foreign Relations.
Nov 7, 2023

Latest Companion Bill Action

HR 118-4175
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.
Jan 24, 2024
Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
Jan 30, 2024
Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.
Jan 30, 2024
Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.
Apr 9, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
  • June 15, 2023
    Introduced in Senate


  • June 15, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • November 7, 2023

    Latest Companion Bill Action

    HR 118-4175
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 2.


  • January 24, 2024
    Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • January 30, 2024
    Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.


  • January 30, 2024
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.


  • April 9, 2024
    Committee on Banking, Housing, and Urban Affairs. Hearings held.
James E. Risch

James E. Risch

Republican Senator

Idaho

Cosponsors (27)
Jeanne Shaheen (Democratic)Rick Scott (Republican)Mike Braun (Republican)Mazie K. Hirono (Democratic)Margaret Wood Hassan (Democratic)Katie Boyd Britt (Republican)Catherine Cortez Masto (Democratic)Jack Reed (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Lindsey Graham (Republican)Roger F. Wicker (Republican)John W. Hickenlooper (Democratic)Robert P. Casey (Democratic)Sheldon Whitehouse (Democratic)Joe Manchin (Independent)Ted Cruz (Republican)John Kennedy (Republican)Michael F. Bennet (Democratic)John Fetterman (Democratic)John Cornyn (Republican)Peter Welch (Democratic)Chuck Grassley (Republican)Pete Ricketts (Republican)Richard Blumenthal (Democratic)Mark Kelly (Democratic)Mike Crapo (Republican)

Foreign Relations Committee, Banking, Housing, and Urban Affairs Committee

International Affairs

Related Bills

  • S 118-4438: Transferring Illicit Assets to Ukraine Act of 2024
  • HR 118-7077: To expand the categories of forfeited property available to remediate harms to Ukraine from Russian aggression, and for other purposes.
  • HR 118-4175: REPO for Ukrainians Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightEuropeGovernment trust fundsPresidents and presidential powers, Vice PresidentsRussiaSanctionsUkraineU.S. and foreign investments