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Allows the U.S. to accept and place frozen Russian sovereign assets into a designated Ukraine Support Fund, invest them in interest-bearing U.S. obligations, and require regular spending from that fund to support Ukraine. It also requires public reporting on where those Russian sovereign assets are held and directs diplomatic engagement to encourage allied countries to repurpose a portion of their frozen Russian assets for Ukraine, plus a series of technical and editorial fixes to the existing Act.
The bill sets deadlines for how Treasury must invest funds (within 45 days), directs the State Department to obligate at least $250 million from the Fund at least every 90 days while money remains, and orders a diplomatic effort to encourage covered countries to repurpose at least 5% per quarter of frozen Russian sovereign assets to help Ukraine. It also clarifies some legal language and updates cross-references in the underlying law.
Read twice and referred to the Committee on Foreign Relations.
Introduced September 19, 2025 by Sheldon Whitehouse · Last progress 5 months ago