Senate Majority Leader Chuck Schumer wants to seize yachts in the US, art properties and oligarchic mansions in Russia – and give relief money to Ukraine.
“These oligarchs who are loyal to Putin are very wealthy and have bought these kinds of assets that are here in the United States,” Schumer said Sunday at a press conference in Manhattan. “There is no reason for Putin’s brutality and these ill-gotten gains must remain in place when relief is most needed.”
Schumer said his plan would give the federal government the power to liquidate foreign assets confiscated from Russia’s sanctioned oligarchs and donate those funds.
He said the assets include things like yachts, helicopters, real estate and artwork and are worth billions of dollars.
“This is the kind of thing we’re talking about: yachts and mansions,” he said. You may ask, ‘Are there any of these assets in New York?’ Obviously there is a whole group.”
The proposal will be addressed in a vote on a $33 billion Ukraine aid package that Schumer hopes Congress will pass this month to provide “security” and humanitarian support for the war-torn country.
President Biden request money From Congress on Thursday, he warned that the $13.6 billion the United States had already provided was “almost exhausted.”
“Basically, we ran out of money,” Biden said at the White House. “It’s not cheap. But it would be more expensive to acquiesce in aggression if we let that happen.”
Additional reporting by David Mayer