The US House of Representatives passed a non-binding bill on Wednesday, calling on President Joe Biden to impound the assets of wealthy Russian individuals believed to have ties to the Kremlin. Under the plan, confiscated capital would go toward supporting Ukraine.
Named the Asset Seizure for Ukraine Reconstruction Act, the bill was backed by 417 lawmakers, with eight voting against it.
The document urges the US president to “confiscate any property or accounts subject to the jurisdiction of the United States, valued over $2,000,000, and belonging to Russian energy companies or to foreign persons whose wealth is derived in part through corruption linked to or political support for the regime of Russian President Vladimir Putin.”
Tom Malinowski (D-N.J.), one of the lawmakers behind the bill, explained that under the legislation US authorities could seize luxury villas, yachts and airplanes belonging to wealthy Russian individuals and companies that have been sanctioned by the U.S.