118th Congress · HOUSE BILLBILL

H.R. 1254 — RUSSIA Act

“To direct the President to seek to obtain an agreement between the United States and other countries that have frozen the assets of the Central Bank of the Russian Federation under which parties to the agreement will use such assets to provide for the reconstruction of Ukraine upon cessation of hostilities in Ukraine.”

International affairs

Introduced Feb 28, 2023

Last action Feb 28, 2023

Pipeline · Bill → Law

Step 1

Introduced

Feb 28, 2023

Step 2

Referred

Feb 28, 2023

Foreign Affairs

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill directs the President to seek to enter into an agreement with other countries that have frozen the assets of Russia's central bank to (1) transfer the frozen assets into a single account at an international financial institution, and (2) distribute such assets to provide for the reconstruction of Ukraine after the cessation of hostilities in Ukraine.

Provisions · 4 sectionsIntroduced in House

Timeline · 2 actions

Feb 28, 2023

Introduced in House

Feb 28, 2023

Referred to the House Committee on Foreign Affairs.