Moulton and Auchincloss target oligarchs with 'Yachts for Ukraine Act'
Two U.S. Representatives from Massachusetts are hoping to use seized Russian assets to help Ukraine rebuild through the “Yachts for Ukraine Act.”
“Some Russian oligarchs think they can ride out this war on their yachts in the Mediterranean,” Rep. Seth Moulton said in a statement. “They’re more concerned with where their next batch of caviar is coming from than confronting their enabler, the war criminal Vladimir Putin, about how he is destroying lives and wrecking the Russian economy.”
The act is sponsored by Reps. Moulton and Jake Auchincloss from Massachusetts — both of them Marine veterans who served overseas, Moulton in Iraq and Auchincloss in Afghanistan — along with Rep. Mike Gallagher of Wisconsin and Rep. Peter Meijer of Michigan.
It would ensure that assets, like superyachts and mansions, seized under current sanctions would be reallocated to humanitarian assistance in Ukraine.
“Now these oligarchs will know that the U.S. will do everything in its power to seize their assets for good — and finally put them to good use, rebuilding the country their acquiescence has helped destroy,” Moulton said.
According to a statement, the value of Russia superyachts alone is billions of dollars.
Gallagher said the “cost of this humanitarian crisis should be paid for by Putin and the cronies who have supported him” and that redirecting profits from their assets is an “obvious way to punish these thugs.”
This legislative effort is another clear message to Russia that the United States intends to hold them accountable, according to Meijer.
“Our message is simple: if you’re an oligarch, we’re coming for your assets, wherever you have them hidden. If you’re in Ukraine fighting on the front lines of democracy, more help is on the way,” Auchincloss said.
This bill represents just the latest potential sanctions Russian oligarchs are facing. For example, earlier this month the United States announced sanctions on eight members of the Russian elite and some members of their families. The group, described as “Putin’s cronies and their family members,” will be cut off from the U.S. financial system, their U.S. assets will be frozen, and their property blocked from use, reported CNN.
Source:
Marta Hill