Skip to main content

US HOUSE OF REPS PASSES BILL THAT ALLOWS BODEN TO SELL SEIZED RUSSIAN YACHTS TO ASSIST UKRAINE

5 hour

HOUSE PASSES BILL URGING BIDEN TO SELL SEIZED RUSSIAN YACHTS TO AID UKRAINE

F.B.I. agents and members of Spain’s Civil Guard searched and seized a yacht said to be owned by the Russian oligarch Viktor F. Vekselberg in April.
Credit... 
F.B.I. agents and members of Spain’s Civil Guard searched and seized a yacht said to be owned by the Russian oligarch Viktor F. Vekselberg in April.

The House on Wednesday overwhelmingly passed a mostly symbolic bill urging President Biden to sell the frozen luxury assets of Russian oligarchs hit with sanctions and use the funds to provide additional military and humanitarian aid to Ukraine.

The legislation is nonbinding, but its 417-to-8 passage reflected a bipartisan desire on Capitol Hill for the president to take a more aggressive posture as the United States and European allies grapple with what to do with Russian assets seized in response to Moscow’s invasion of Ukraine.

It came a day after Attorney General Merrick B. Garland told a Senate panel that the administration would ask Congress for expanded authority to confiscate and liquidate Russian property.

“We would support legislation that would allow some of that money to go directly to Ukraine,” Mr. Garland told the Appropriations Committee on Tuesday.

Senator Chuck Schumer, Democrat of New York and the majority leader, is consulting with the Biden administration on the matter and would like to include a provision giving the president authority to sell off seized Russian assets in legislation to send additional aid to Ukraine, which Congress is expected to consider in the coming days, a spokesman said.

Mr. Garland’s comments gave a boost to the bill’s backers, who have contended with a series of thorny legal issues in their attempts to find a way for the United States to essentially transform items like yachts and upscale apartments into de facto reparations for Ukrainians still under siege.

The move is virtually without precedent and would amount to a significant expansion of presidential sanctions authority, though experts have clashed over whether Mr. Biden would need to seek out new statutory authority from Congress to liquidate assets.

Representatives Tom Malinowski, Democrat of New Jersey, and Joe Wilson, Republican of South Carolina, who sponsored the legislation that passed on Wednesday, have argued that the Biden administration should sell the luxury items seized in line with newly expanded sanctions and divert the proceeds to the Ukrainian war effort, rather than letting the property languish and eventually returning it.

“Can we imagine,” Mr. Malinowski asked on the House floor on Wednesday, a Ukrainian flag pinned to his lapel, “giving all of Russia’s wealth — the yachts, the bank accounts, the villas, the planes — back to Putin and his cronies as Ukraine lies in ruin, as the Ukrainians bury their dead? We cannot imagine doing that. We will not do that.”

In recent weeks, law enforcement officials have seized a growing roster of multimillion-dollar superyachts across Europe. In April, the F.B.I. worked in concert with Spanish authorities to take the 250-foot, $90 million Tango, said to be owned by the Russian energy tycoon Viktor F. Vekselberg. Unless the vessels are maintained, they risk becoming environmental blights, experts have warned.

Early attempts to quickly enact the bill were stymied after lawmakers on the Foreign Affairs Committee and lawyers at the American Civil Liberties Union raised concerns that the legislation could run afoul of legal protections for individuals, by depriving the Russians who owned the seized items of the right to challenge such an action and potentially reclaim their property. Those concerns were reported earlier by The Washington Post.

“The problem with the bill as introduced was that the complete absence of any due process protections would likely have resulted in a court handing Russia a propaganda win by having an American court invalidate both the sanctions law and the sanctions themselves,” said Christopher Anders, the federal policy director at the A.C.L.U.

In response to those concerns, lawmakers watered down the bill substantially, making it a nonbinding resolution that would call on the administration to convene an “interagency working group” tasked with determining “the constitutional mechanisms through which the president can take steps to seize and confiscate” the assets of oligarchs who were punished with sanctions

Comments

Popular posts from this blog

Countries Accepting Nigerians Seeking Second Citizenship

  Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application.  Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de

AKURE OBASHIP: OBA AGUNSOYEBIOYINBO ADEMUAGUN ADESIDA 11 BROUGHT CLASS AND DIGNITY TO THE THRONE

      AKURE OBASHIP: OBA AGUNSOYEBIOYINBO ADEMUAGUN ADESIDA 11 BROUGHT CLASS AND DIGNITY TO THE THRONE                 By Sunday Ajibola There are men and there are men. Man gets to positions of power and authority and bring to bear their inner qualities. Position, as we have it here, is used to do all sorts of things; good and bad. But mostly and vexatiously, position blinds us as we use it to cheat and deny others their rights. Certain men understand that position is an opportunity to etch their names in gold and put such in the sand of time.   It is exactly fifty years today that the 42nd Deji of Akure, late Oba Agunsoyebioyinbo Ademuagun Adesida 11 joined his ancestors. That fateful day was Sunday and in the evening; darkness was just enveloping the city. It was the strange shouts of "opo ye o, opo ye o, opo ye o", that prompted me to rush out of our house at Oke aro. I saw people running helter, skelter. I did not bother about them. I was looking for the "electric

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

  Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen.  The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days.                 Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.