Rep. Barry Moore (AL-02) joined the Make Russia Pay Act as an original cosponsor with 14 colleagues to establish a "Ukrainian Humanitarian Aid Fund" at Treasury into which seized Russian assets (physically in the US or denominated in US dollars) would be liquidated and transferred. Russia's own central bank had approximately $100 billion of reserves held in U.S. dollars according to the most recent available data released in January 2022. Treasury would then be authorized to disburse funds directly to Ukraine to provide assistance to its citizens, to rebuild destroyed infrastructure, and to purchase needed defense articles. The fund would also provide assistance to the many EU nations like Poland that have taken in millions of refugees fleeing Ukraine.
"Putin's unprovoked offensive in Ukraine continues to cause tremendous destruction," said Rep. Barry Moore. "The Russians have severely damaged the infrastructure of Ukraine, and as a result, countless people have been displaced. With so many Russian assets having been seized since the invasion began, it would only make sense that those assets be put towards assisting the Ukrainian people, who have already suffered so much. This bill will do a great deal to help the people of Ukraine recover what they never should have lost."