H.R. 5925 · 118th Congress
Make Putin Pay Act
- Stage
- In committee
- Sponsor
- Rich McCormick
- Introduced
- 2023-10-11
- Latest action
- 2023-10-25 · Referred to the House Committee on Foreign Affairs.
Summary
Make Putin Pay Act
This bill authorizes the Department of the Treasury to seize and confiscate assets subject to the jurisdiction of the United States that are (1) blocked due to the imposition of sanctions on persons linked to Russian President Putin, or (2) Russian sovereign assets or owned by the Russian central bank. Proceeds from the sale of seized or confiscated assets will be made available to reimburse the United States for expenses related to the Russia-Ukraine conflict.
Treasury must periodically report to Congress on the amount of proceeds obtained from the sale of seized and confiscated assets.