The US Senate proposed purchasing weapons for Ukraine with confiscated Russian assets

A bipartisan group of U.S. senators has introduced the SABER bill, which would expand the use of confiscated Russian sovereign assets to purchase military equipment for Ukraine.

This was announced by Senator Tim Kaine.

The current REPO law allows for the seizure of frozen assets of the Russian Central Bank that are under U.S. jurisdiction. Currently, these funds can only be used for reconstruction in Ukraine, humanitarian assistance, and compensation funds. The SABER bill proposes to expand the permitted uses of confiscated assets and direct them to the purchase of military equipment for Ukraine.

The initiative was supported by 6 senators:

• Tim Kane;
• Chris Koons;
• Sheldon Whitehouse;
• John Cornyn;
• Roger Wicker;
• Chuck Grassley.

“The REPO Act laid an important foundation for the seizure and repurposing of billions of dollars in frozen Russian assets. By expanding the permitted use of funds to replenish Ukraine’s arsenal, this legislation will force Putin to foot the bill for arming Ukraine,” noted John Cornyn.

Chuck Grassley emphasized that such support for Ukraine does not cost American taxpayers.

“The international community must continue to do everything possible to provide Ukraine with everything it needs to succeed on the battlefield and rebuild its country,” Tim Kaine added.

Chris Coons said the bill “opens up new avenues for support so we can ensure our security and that of Ukraine.”

“Hundreds of billions of dollars in frozen Russian funds should be put to good use to repel Russian invaders and support the brave Ukrainians fighting for freedom,” said Sheldon Whitehouse.

By the way, Belgian Prime Minister Bart de Wever stated that Russian frozen assets will not be used at least until a peace agreement is concluded between Ukraine and the Russian Federation.

It was previously reported that the European Union was working on an urgent legal mechanism that would allow frozen Russian money to be safely used to lend to Ukraine, avoiding risks for Belgium.

As is known,the European Union was preparing an alternative financing scenario for Ukraine in case the leaders failed to agree on using frozen Russian assets to create a reparations loan.

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