Republican Rep. Rich McCormick proposes bill to use Russian assets to reimburse the US for Ukraine aid

News & Politics

Republican Rep. Rich McCormick of Georgia is proposing a bill that calls for the U.S. to use Russian assets to reimburse itself for Ukraine-related spending and then use any remaining funds to provide additional assistance to the embattled Eastern European nation.

“The United States and allies have seized approximately $330,000,000,000 in funds related to Russian oligarchs or the Moscow bank,” a copy of the bill obtained by the Daily Caller News Foundation states. “Any of these assets subject to the jurisdiction of the United States Government should be seized and used to reimburse the United States, pay for additional equipment and humanitarian assistance given to Ukraine and pay for reconstruction efforts after the conclusion of the war.”

The U.S. has shelled out billions of dollars to aid Ukraine as that nation battle against a Russian invasion.

“[This bill] does a few things. It takes the Russian threat very seriously, it’s punitive [and] it means we’re all in on doing the right thing,” the congressman told the outlet. “And at the same time, it doesn’t increase our debt… this takes the assets that were frozen and uses it against the Russian war efforts.”

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“This uses their own funds to basically purchase munitions and weaponry to stop [Russian] aggression directly,” the lawmaker said, according to the DCNF.

He said President Joe Biden is “not able to make a good case – certainly not an authentic, genuine, real case for why we should be supporting Ukraine, but that doesn’t take the onus off of us to do the right thing.”

“In fact, it just makes me have to step up and do his job for him,” McCormick said, according to the outlet.

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