US to seize and sell Russian oligarchs' propertypublished at 14:59 British Summer Time 28 April 2022
The White House has proposed giving the government greater power to seize and sell the assets of Russian oligarchs, and transfer their proceeds to Ukraine.
The legislative proposal will be presented to Congress for consideration.
It follows similar legislation recently passed in the US House of Representatives.
But the new White House plans go further, focusing on collaboration between Justice, Treasury, State and Commerce departments.
The measures would make it easier for the US to seize and sell oligarchs' assets, and use the funds "to remediate harms of Russian aggression", the White House said in a statement.