A bipartisan group of U.S. senators introduced legislation on Friday that would redirect frozen Russian sovereign assets to Ukraine.
The bill amends the Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act, requiring the transfer of at least $250 million from frozen Russian assets held in the United States to Ukraine every 90 days. It also calls on NATO allies to commit 5% of the globally seized Russian assets—an estimated $15 billion—on the same timeline.
The proposal is spearheaded by Senators Jim Risch (R-ID), Sheldon Whitehouse (D-RI), Jeanne Shaheen (D-NH), Chuck Grassley (R-IA), Richard Blumenthal (D-CT), and Lindsey Graham (R-SC). It builds on the original REPO Act passed in April 2024, which authorized the seizure of approximately $6 billion in frozen Russian assets located in the U.S.
Since Russia launched its “special military operation” in Ukraine in February 2022, roughly $300 billion in Russian sovereign assets—mostly from the Central Bank of Russia—have been frozen in Western financial institutions. The majority, around $280 billion, is held in Belgium’s Euroclear. While the EU has pledged to use accrued interest on these funds to support Ukraine, the estimated $3–5 billion generated annually falls far short of Ukraine’s needs, fueling speculation that some principal funds may already have been tapped.
It remains uncertain whether U.S. President Donald Trump will support the bill. However, framing the measure as using seized Russian assets rather than American taxpayer dollars could appeal to Trump’s political base, which has expressed opposition to continued U.S. involvement in Ukraine and skepticism toward President Volodymyr Zelensky.
Earlier this week, Zelensky stated that Ukraine will require approximately $120 billion in external funding to meet its 2026 budget, though he claimed Kiev could provide half through domestic revenue. Given Ukraine’s heavy dependence on foreign assistance, most of the financial burden is expected to fall on NATO allies.