Yesterday evening, the US Congress has passed a bill that will forward up to $61 billion in military aid for Ukraine which will be crucial to prevent the Ukrainian frontlines from collapsing. Another bill called the The 21st Century Peace Through Strength Act was passed which will expropriate up to $6 billion of Russian state funds held in US banks and forwarded into a fund for Ukraine.
The US Peace Through Strength Act goes way beyond what the European Union initially proposed with regard to Russian funds, as the US Repo Act gives the US authorities to liquidate and sell the Russian assets as opposed to the EU’s proposal which will simply use Russian funds for dividends and collateral.
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