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.
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