Joint Statement on Senate Passage of the Russian Oligarch Assets Transfer Provision

WASHINGTON -- Congressman Steve Cohen, Co-Chairman of the Commission on Security and Cooperation in Europe, issued the following joint statement with with Congressmen Tom Malinowski and Joe Wilson and Senators Lindsey Graham, Sheldon Whitehouse, Michael Bennet and Richard Blumenthal after the Senate passed an amendment to incorporate the Russian Oligarch Assets Transfer provision in the final spending package for fiscal year 2023.

"This new law will enable proceeds from recovered Russian oligarch assets to be sent directly to Ukraine for defense, reconstruction, and reparation. It's a matter of basic justice that Russian criminals linked to Putin should pay for this brutal, illegal, and unprovoked war against Ukraine. Today, Congress has ensured that they will. Potential assets total in the billions. We encourage our friends and allies in the G-7 and in the European Union to follow suit. This law is the product of bipartisan collaboration that started with Russia's invasion of Ukraine and that will continue. Today is a good day for the long-suffering people of Ukraine and the American taxpayer, and a bad day for Russian oligarchs and Putin's thugs."

On June 21, 2022, Congressman Cohen introduced the Oligarch Assets for Ukrainian Victory Act along with Representatives Wilson, Malinowski, Brian Fitzpatrick, William Keating and John Curtis. The bill authorizes the transfer of assets forfeited by Russian oligarchs to assist Ukraine.

The provisions of this bill will be signed into law as part of the year-end spending package.