The White House has urged that the government be given further authority to confiscate and sell Russian oligarchs’ assets, with the revenues going to Ukraine.

The legislative proposal, which was announced on Thursday morning, will be considered by Congress.

The measures would make it easier for the US to seize and sell the assets of oligarchs and use the proceeds “to mitigate the harms caused by Russian aggression.”

The US House of Representatives recently enacted similar legislation.

However, the new White House plans go far further, calling for inter-agency cooperation across the Treasury, Justice, State, and Commerce departments.

The White House stated in a statement that the package will “create new authorities for the confiscation of property linked to Russian kleptocracy, allow the administration to spend the revenues to support Ukraine, and improve associated law enforcement measures.”

It’s accompanied by a call to Congress for increased military, economic, and humanitarian aid to Ukraine.

President Biden approved a second $800 million (£642 million) military aid package in as many weeks last week, as well as $500 million (£401 million) in direct economic help.

Also Read

Bulgaria provide around 700,000 euros in humanitarian help to Ukraine – Shmyhal

Bulgaria will provide Ukraine with EUR 706,000 in humanitarian aid and EUR...