US President Joe Biden will ask Congress on Thursday for new funds to support Ukraine’s military, as well as new legal tools to tighten sanctions and strip assets from Russian oligarchs. Biden is expected to ask Congress for significant sums of money to help Ukraine withstand a Russian invasion as well as allow new legal authorities to seize money from Russian oligarchs to pay for the war effort.
Spokesperson Jen Psaki said on Wednesday that US officials would seek the full amount by the end of the September fiscal year for Ukraine’s military operations as well as humanitarian and economic aid.
The White House said Biden is combining that request with a proposal for lawmakers to hand over new capabilities to his administration, allowing US officials to confiscate the assets of more oligarchs, give the cash from those seizures to Ukraine and dodge sanctions. To pursue, the White House said.
The moves include letting the Justice Department use tougher US racketeering laws against the Mafia, Racketeer Influenced and Corrupt Organizations (RICO) Act to build cases against people who evade sanctions.
Biden wants to give prosecutors more time to build such cases by increasing the statute of limitations for money laundering lawsuits to 10 years instead of five. According to the summary of the proposals, he would also make it a criminal act to have intentionally taken money from corrupt transactions with Russia.
The measures are part of US efforts to isolate and punish Russia for its February 24 invasion of Ukraine, as well as to help Kyiv recover from a war that has turned cities to rubble and cost 5 million dollars. More and more people have been forced to flee abroad.
US military aid to Ukraine has exceeded $3 billion since Russia began a “special military operation” to Ukraine and “deny” Ukraine. Kyiv and its Western allies dismiss this as a false pretext.
The Biden administration has said the United States and its European allies have seized $30 billion in assets of wealthy individuals with links to Russian President Vladimir Putin, including yachts, helicopters, real estate and art.
Biden is expected to discuss Congress’ request from the White House at 10:45 a.m. (1445 GMT).
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