Kildee Introduces Bipartisan Legislation to Seize Russian Oligarch Assets, Use Funds to Aid Ukraine

Press Release

Congressman Dan Kildee, Chief Deputy Whip of the House Democratic Caucus, today introduced bipartisan legislation to seize and repurpose assets from Russian oligarchs whose wealth is linked to Russian President Vladimir Putin.

The Asset Seizure for Ukraine Reconstruction Act authorizes the Biden administration to confiscate any property--including luxury villas, yachts and airplanes--valued over $5 million from Russian oligarchs previously sanctioned by America for their involvement in Russia's invasion of Ukraine. Any funds from asset sales would benefit the Ukrainian people through military and humanitarian assistance, post-conflict reconstruction, and technology to ensure the free flow of information in Ukraine.

"Russian oligarchs close to the Kremlin should not be able to hide their assets while Vladimir Putin commits atrocities against the Ukrainian people," said Congressman Kildee. "By seizing the yachts, mansions and airplanes of Russian oligarchs, we can put additional economic sanctions on Vladimir Putin and repurpose these assets to aid the Ukrainian people."

Recently, Congressman Kildee voted for a U.S. House of Representatives resolution supporting the people of Ukraine. Kildee has shown strong support for additional economic sanctions to punish Russia for its actions, as well as strengthening NATO forces to deter further aggression.

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