RELEASE: Bice Introduces 'Make Russia Pay Act'

Washington, D.C. – Congresswoman Stephanie Bice (OK-05) introduced H.R. 7083, the Make Russia Pay Act, a bill that would establish a “Ukrainian Humanitarian Aid Fund” at Treasury into which seized Russian assets (physically in the US, or denominated in US dollars) would be liquidated and transferred. Russia’s own central bank had about $100 billion of reserves held in U.S. dollars according to the most recent available data released in January, 2022. Treasury would then be authorized to disburse funds directly to Ukraine to provide assistance to its citizens, to rebuild destroyed infrastructure, and to purchase needed defense articles. The fund would also provide assistance to the many EU nations like Poland that have taken in millions of refugees fleeing Ukraine.

Rep. Bice issued the following statement:

“It is imperative that Russia pay the consequences for their invasion of Ukraine. This legislation essentially acts as a Marshall Plan, where the funds seized from Russian assets will be used to aid Ukrainian refugees, help provide for Ukraine’s defense and humanitarian needs, and rebuild destroyed infrastructure. The United States must take action against the Russian war machine and hold Putin and his oligarchs accountable. I am grateful for the support of my colleagues on this important legislation.”

Read full bill here.