PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-550.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 15, 2023
Rebuilding Economic Prosperity and Opportunity for Ukrainians Act or the REPO for Ukrainians Act
This bill requires or authorizes various actions related to the confiscation and disposition of Russian sovereign assets (which include funds and other property of Russia's central bank, direct investment fund, or ministry of finance). Under the bill, the President must require U.S. financial institutions to notify the Department of the Treasury of any Russian sovereign assets located at such institutions. The President may confiscate any such assets subject to U.S. jurisdiction. Confiscated funds and the proceeds of liquidated property must be deposited into the Ukraine Support Fund established by the bill. The Ukraine Support Fund shall be available to the Department of State only to compensate Ukraine for damages caused by the Russian invasion, including by providing funds to an international body or mechanism for (1) reconstruction and rebuilding efforts in Ukraine, (2) humanitarian assistance to the Ukrainian people, or (3) other purposes which support the recovery of Ukraine and the welfare of the Ukrainian people. The bill also directs the President to seek to establish, with foreign partners, an international mechanism to provide compensation to Ukraine using the Ukraine Support Fund and Russian sovereign assets confiscated by foreign partners. Additionally, the bill sets policy on related topics, such as specifying that the United States should lead an international sanctions regime to freeze Russian sovereign assets in conjunction with allies and partners.
People & committees
Sen. Risch, James E. [R-ID] · R–ID
Legislative record
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Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-550.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 316.
Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.
Committee on Foreign Relations. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.
Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
Read twice and referred to the Committee on Foreign Relations.
Introduced in Senate
Primary sources
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Source last updated: May 30, 2026. Consult Congress.gov for the current record.
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