Biden Administration Defends Bill on Seizing Frozen Russian Assets

The Biden administration is defending a bill that would allow for the seizure of approximately $300 billion in frozen Russian assets in the West. This was reported by Bloomberg, citing a document from the National Security Council. The funds are intended to be used for the reconstruction of Ukraine.

The document, which has been sent by the U.S. National Security Council to the Senate Foreign Relations Committee, states that the administration fundamentally supports the legislation that would permit the confiscation of Russian financial resources.

"The bill would provide the necessary authority for the U.S. executive branch to confiscate Russian sovereign assets for the benefit of Ukraine," the agency quoted a section of the document.