Sen. Mike Rounds has joined other senators in introducing a bill he said will aid Ukraine in its war against Russia.
It's called the Transferring Illicit Assets to Ukraine Act. The act was introduced on June 8.
If passed, it would mean that the Department of Justice could increase the number of resources the U.S. provides Ukraine.
Currently, only assets seized from violators of Russian sanctions can be dispersed. Rounds said the bill would allow the department to transfer assets forfeited from violations of a wider range of economic countermeasures, such as export controls.
The bill would also require the Attorney General, Secretary of Treasury and the Secretary of State to submit a plan and bi-annual reports on how the act has helped Ukraine defense efforts.
“It is critical Ukraine is able to protect their country against Russia’s unjustified and illegal invasion,” Rounds said. “By providing Ukraine with the necessary tools to defend themselves, we are helping to defend democracy. This bipartisan legislation paves an effective and efficient way for Ukraine to receive seized assets, which further strengthens their ability to fight back against Russian aggression.”
Rounds introduced the deal along with Sen. Joe Manchin (D-W. Va.), Sen. Richard Blumenthal (D-Conn.) and Sen. Lindsey Graham (R-S.C.).
