Thursday, April 28, 2022

U.S. To Sell Russian Assets For Ukraine Aid

 

The Biden Administration has plans underway to use the assets of sanctioned Russians to pay for aid to Ukraine. In support of that, in a lopsided 417 - 8 non-binding vote, the House urged Biden to sell off the real property and yachts seized from Russian oligarchs and use the funds to support humanitarian and military aid to Ukraine. The vote comes a day after Attorney General Merrick Garland told the Senate Appropriations Committee that the Biden Administration would ask Congress for authority to liquidate seized Russian property and provide the proceeds directly to Ukraine. 

The European Union and our other allies (the UK, Canada, Japan, etc.) should make it a priority to explore similar actions in a concerted effort to liquidate all current and future seized Russian assets for the benefit of Ukraine. Aid currently coming out of the western alliance should be reimbursed by seized Russian assets and penalties. Russia should pay dearly for destroying the lives, cities and towns of its neighbor, no matter how many years it takes.