Make Russia Pay Act

12/29/2022, 10:03 PM
Congress
117

Number
HR - 7083

Introduced on
2022-03-15

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/15/2022

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Make Russia Pay Act

This bill requires the Department of the Treasury to liquidate all Russian assets seized by the United States and deposit the resulting funds into a Ukrainian Humanitarian Aid Fund established by the bill. Treasury may use the funds to provide assistance to Ukraine, including by providing funding to Ukraine's government for humanitarian and security assistance.

Bill 117 HR 7083, also known as the Make Russia Pay Act, is a piece of legislation introduced in the US Congress with the aim of holding Russia accountable for its aggressive actions on the international stage. The bill seeks to impose a series of sanctions on Russia in response to its interference in the 2016 US presidential election, its annexation of Crimea, and its support for separatist movements in Ukraine.

Specifically, the Make Russia Pay Act calls for the imposition of additional economic sanctions on Russian individuals and entities involved in these activities. It also seeks to restrict Russia's access to US financial markets and technology, as well as limit its ability to conduct business with US companies.

Furthermore, the bill includes provisions for increased support to Ukraine, including military assistance and training, in order to help the country defend itself against Russian aggression. It also calls for the US to work with its allies to coordinate a unified response to Russian aggression and to promote democracy and human rights in the region. Overall, the Make Russia Pay Act represents a bipartisan effort to hold Russia accountable for its actions and to protect US interests and those of its allies in the face of Russian aggression. The bill is currently being debated in Congress, with supporters arguing that it is necessary to send a strong message to Russia, while opponents raise concerns about the potential impact of the sanctions on US businesses and the broader economy.
Alternative Names
Official Title as IntroducedTo transfer seized Russian assets to a Ukrainian Humanitarian Aid Fund and to authorize the Secretary of the Treasury to use amounts in the Fund for humanitarian assistance for Ukraine, and for other purposes.

Policy Areas
International Affairs

Potential Impact
Conflicts and wars•
Europe•
European Union•
Foreign aid and international relief•
Foreign and international banking•
Foreign property•
Government trust funds•
Military assistance, sales, and agreements•
Military operations and strategy•
Reconstruction and stabilization•
Refugees, asylum, displaced persons•
Russia•
Sanctions•
Ukraine

Comments

Recent Activity

Latest Summary9/22/2022

Make Russia Pay Act

This bill requires the Department of the Treasury to liquidate all Russian assets seized by the United States and deposit the resulting funds into a Ukrainian Humanitarian Aid Fund established by the bi...


Latest Action3/15/2022
Referred to the House Committee on Foreign Affairs.