Statement from President Joe Biden on Historic Decision to Leverage Russian Sovereign Assets to Support Ukraine
Today, the United States, in close coordination with our Allies and partners, is announcing a historic new action to further hold Russia accountable for its war against Ukraine and to support the Ukrainian people.
Leveraging Frozen Russian Sovereign Assets
In coordination with our Allies and partners, we will work to leverage frozen Russian sovereign assets to support Ukraine. This includes exploring options such as using frozen assets to compensate victims of Russia’s war in Ukraine or to fund Ukraine’s reconstruction. We are also exploring ways to use these assets to support Ukrainian refugees and internally displaced persons.
New Sanctions on Russian Elites and Entities
In addition, we are announcing a new round of hard-hitting sanctions on Russian elites and entities. These sanctions target individuals and entities that are complicit in Russia’s war against Ukraine, including those responsible for human rights abuses and violations of international humanitarian law.
Continued Support for Ukraine
The United States remains committed to providing strong economic, humanitarian, and security assistance to Ukraine as it defends its sovereignty and territorial integrity. We will continue to work closely with our Allies and partners to hold Russia accountable for its aggression and to support the Ukrainian people.
Together, we can end Putin’s war and build a more just and peaceful future for Ukraine and the world.
In Detail
Background:
- Russia’s invasion of Ukraine has caused significant damage to Ukraine’s infrastructure and economy.
- The United States and its Allies have frozen billions of dollars in Russian sovereign assets in response to the invasion.
New Policy:
- The United States, in coordination with its Allies and partners, will explore options to leverage frozen Russian sovereign assets to support Ukraine.
- This could include using the assets to compensate victims of Russia’s war in Ukraine, fund Ukraine’s reconstruction, or support Ukrainian refugees and internally displaced persons.
New Sanctions:
- The United States is announcing a new round of sanctions on Russian elites and entities.
- The sanctions target individuals and entities that are complicit in Russia’s war against Ukraine, including those responsible for human rights abuses and violations of international humanitarian law.
Implications:
- The new policy represents a significant step in holding Russia accountable for its aggression against Ukraine.
- The sanctions will further isolate Russia from the global economy and send a clear message that it will not be allowed to continue its war with impunity.
- The United States remains committed to supporting Ukraine as it defends its sovereignty and territorial integrity.
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