That's why I’m joining my colleagues in introducing this bipartisan legislation to allow the use of Russian sovereign assets to buy defense articles that would support Ukraine’s fight against Russia.
Support legislation to allow confiscated Russian sovereign assets to be used to purchase military equipment for Ukraine's defense.
Occurrences
Evidence
Britain announced a new £752 million military aid package for Ukraine, including 150,000 drones, funded by a loan backed by frozen Russian assets.
The Czech ammunition initiative said nearly €1 billion had been secured for 2026, with funding coming in part from the yield on frozen Russian assets.
G7 finance ministers backed a U.S.-driven plan for a Ukraine loan secured by profits from frozen Russian central-bank assets held in Euroclear.
TIME reports that Congress passed the Repo Act, giving the president power to confiscate frozen Russian sovereign assets, while a follow-on plan would still leave Europe using only interest income.
Assessments
During Kaine's Senate term, Congress enacted a 2024 framework giving the U.S. president authority to seize certain frozen Russian sovereign assets for Ukraine, which is a substantial step toward the promised policy. But the evidence indicates the real-world follow-through has been incomplete: allied assistance has relied largely on profits, interest, or loans backed by frozen assets rather than broad direct confiscation of principal to buy military equipment. That means the promise was materially advanced and partly delivered in the same term, but not fully realized on the exact terms promised.