Boise City Wire

U.S. Senators Jeanne Shaheen, Jim Risch, Sheldon Whitehouse, and Lindsey Graham made a bipartisan appeal at the Munich Security Conference for the Trump Administration and G7 allies to release approximately $300 billion in frozen Russian assets. The goal is to redirect these funds to support Ukraine.

"Congress passed the bipartisan REPO Act to support Ukraine using frozen Russian sovereign assets parked in American banks," stated the senators. They emphasized that "Vladimir Putin must pay for his brutal invasion, and Russia’s own assets are an appropriate way to give brave Ukraine the support it needs."

Senator Shaheen has been vocal about strong U.S. backing for Ukraine against Russian aggression. She played a significant role in advancing legislation like the REPO for Ukrainians Act, which permits the seizure of Russian sovereign assets to aid Ukraine's recovery.

The REPO for Ukrainians Act became law in April 2024, enabling frozen Russian assets to be used for rebuilding efforts in Ukraine. In October, a $50 billion loan was announced by the Biden administration and G7 allies with contributions from these frozen assets.

Following Russia's invasion in 2022, Whitehouse and Graham established the informal Ukraine Victory Caucus alongside Senator Richard Blumenthal. Their Asset Seizure for Ukraine Reconstruction Act aims to expedite asset seizures from sanctioned individuals aiding Russia.

Whitehouse and Graham have also successfully enacted legislation allowing seized assets of Vladimir Putin and associates to fund Ukrainian reconstruction efforts.