H.R. 4175 would authorize the President to confiscate and vest in the U.S. government any sovereign assets of Russia or Belarus that are under U.S. jurisdiction as well as any similar sovereign assets of any country judged to be affiliated with Russia or Belarus. Under the bill, the President could designate as affiliated any country that provides significant material assistance to Russia or Belarus. The confiscated assets would be used to provide humanitarian and economic assistance to Ukraine. The bill also would require the Administration to report to the Congress on the confiscated assets, on its implementation of the bill, and on related matters.
