Congress, Biden Move to Seize and Sell Assets of Russian Oligarchs

The White House is proposing new legislation that would allow the U.S. to further seize and sell the assets of Russian oligarchs.

The U.S. House of Representatives on Wednesday passed similar legislation, called the Asset Seizure for Ukraine Reconstruction Act. The White House plans to go further by calling for interagency collaboration between the Justice Department, State Department, Treasury Department, and Commerce Department. President Joe Biden plans to elaborate on details of the proposal Thursday at the White House, as the U.S. continues to work to hold the Russian government and Russian oligarchs accountable for Russian President Vladimir Putin's invasion of Ukraine. 

Media from the center, right and left all reported that the seized assets would be used to help Ukraine through humanitarian aid and technological support.