Congressman Cohen Introduces Legislation Authorizing Transfer of Forfeited Russian Assets to Assist Ukraine

Assist Ukraine

WASHINGTON – Congressman Steve Cohen (TN-09), Co-Chairman of the Commission on Security and Cooperation in Europe, today introduced the Oligarch Assets for Ukrainian Victory Act along with Representatives Joe Wilson (SC-02), Tom Malinowski (NJ-07), Brian Fitzpatrick (PA-01), William Keating (MA-09) and John Curtis (UT-03). The bill authorizes the transfer of assets forfeited by Russian oligarchs to assist Ukraine. It also sets out procedures for the coordination of the process involving the Departments of Justice, State and Treasury.

Congressman Cohen made the following statement:

"We must do all we can to assist Ukraine, and that should include making use of forfeited Russian assets to defend and rebuild. The corruption we have uncovered through whistleblowers and the Magnitsky Act is staggering. Rather than line the pockets of Putin's friends, these assets should be used to support the Ukrainian people in the face of Russian aggression."

In March, Representatives Cohen, Joe Wilson (SC-02), Tom Malinowski (NJ-07) and Maria Elvira Salazar (FL-27) introduced the Oligarch Asset Forfeiture Act to freeze, seize and liquidate the ill-gotten wealth of Putin-linked oligarchs.

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