S.Res. 421 — A resolution urging the executive branch and leaders of the G7 and the European Union to seize sovereign assets of the Russian Federation under the jurisdiction of members of the G7 and disburse such assets to Ukraine in tranches of not less than $10,000,000,000 United States dollars per month until expended.

This section expresses the sense of the Senate that (1) the Russian Federation bears full financial responsibility for the harm caused by its war of aggression against Ukraine, and its assets should be used to satisfy that responsibility; (2) the Senate remains steadfast in its support for Ukraine's sovereignty, independence, and right to self-defense, and all available diplomatic, legal, and economic tools should be leveraged to hold Russia accountable; (3) the executive branch should advocate internationally that Russia's violation of international law removes its sovereign immunity protections under the doctrine of countermeasures, that international law supports permanent confiscation of state-owned assets for grave violations, and that asset seizure is legitimate for Ukraine's reconstruction and deterring future aggression; (4) countries holding Russian sovereign assets should harmonize domestic legal authorities equivalent to those granted by the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (Public Law 118-50), partner with the United States on a multilateral sovereign asset repurposing fund, and confiscate such assets in tranches of not less than $10 billion per month until expended for Ukraine's defense against Russia; and (5) the President, Secretary of State, and Secretary of Defense should pressure such countries by prioritizing U.S. weapons sales to those that seize and distribute assets to a Ukraine fund and deprioritizing sales to those that do not.