Section 1 Short title
This Act may be cited as the “Oligarch Assets for Ukrainian Victory Act of 2022”.
Oligarch Assets for Ukrainian Victory Act of 2022
A BILL
To authorize the Attorney General to transfer the proceeds of certain forfeited property to remediate the harms of Russian aggression towards Ukraine, and for other purposes.
Sec. 2 Attorney General authority to transfer forfeited Russian assets to assist Ukraine
Authorization— The Attorney General may transfer to the Secretary of State the proceeds of any covered forfeited property, for use by the Secretary of State to provide assistance to Ukraine to remediate the harms of Russian aggression towards Ukraine. Any such transfer shall be considered foreign assistance under the Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.).
Report— The Attorney General, in consultation with the Secretary of the Treasury and the Secretary of State, shall provide a semiannual report the appropriate congressional committees on any transfers made pursuant to subsection (a).
Definitions— In this section:
The term covered forfeited property means property seized by the Department of Justice under chapter 46 or section 1963 of title 18, United States Code, which property belonged to or was possessed by a person or entity designated by the Secretary of the Treasury or the Secretary of State, pursuant to Executive Order 14024, as subject to sanctions.
The term appropriate congressional committees means—
the Committees on the Judiciary of the House of Representatives and of the Senate;
the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate;
the Committees on Appropriations of the House of Representatives and of the Senate; and
the Committee on Financial Services of the House of Representatives and the Committee on Finance of the Senate.
Sunset— The authority under this section expires on May 1, 2025.