A U.S. Senate Foreign Relations Committee approved legislation on January 24 that would help set the stage for the United States to confiscate Russian assets and hand them over to Ukraine for rebuilding. The committee voted 20 to 1 in favor of the unprecedented Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act. If it were to pass the full Senate and House of Representatives and be signed into law by President Joe Biden, the act would pave the way for Washington's first-ever seizure of central bank assets from a country with which it is not at war.
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