US senators propose purchasing weapons for Ukraine using confiscated Russian assets

A group of senators from both the Democratic and Republican parties has introduced a bill to Congress that would allow confiscated sovereign assets of Russia to be used to purchase military equipment and weapons for Ukraine.

This was reported on the website of Democratic Senator Tim Kaine, Ukrinform reports.

The bill, titled "Seized Assets for Battlefield Equipment and Readiness (SABER) Act," was introduced by Kaine, along with Democratic members Chris Coons and Sheldon Whitehouse, and Republicans John Cornyn, Roger Wicker, and Chuck Grassley.

The bill proposes amending current legislation so that Ukraine can use assets confiscated from the Central Bank of the Russian Federation and other Russian sovereign assets to purchase military equipment for defense against Russian aggression.

"The resolve and resilience of Ukrainians in defending their homeland from Russian forces has been commendable, and the international community must continue to do all we can to ensure Ukraine has what it needs to be successful on the battlefield and rebuild their country," Kaine said.

According to him, this bipartisan legislative initiative will allow Russian sovereign assets to be used to purchase defense products in support of Ukraine's fight against Russia.

As reported, the current REPO Act already allows frozen Russian sovereign assets under US jurisdiction to be confiscated and transferred to Ukraine for compensation payments, reconstruction and recovery of the country, as well as for economic and humanitarian assistance to Ukrainians.