U.S. President Joe Biden’s administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for the reconstruction of Ukraine, a shift as the White House seeks to rally support in Congress to further fund the war against Vladimir Putin’s forces.
The administration welcomes "in principle” a bill that would allow it to confiscate the funds, according to a November memo from the National Security Council (NSC) to the Senate Foreign Relations Committee.
"The bill would provide the authority needed for the executive branch to seize Russian sovereign assets for the benefit of Ukraine,” the NSC said in the memo.