Reps. Moulton and Auchincloss sponsor 'Yachts for Ukraine Act' meant to target Russian oligarchs' assets
Four U.S. representatives, two of whom represent Massachusetts and are both veterans, have sponsored legislation called the “Yachts for Ukraine Act,” meant to target the assets of Russian oligarchs and repurpose them to help rebuild the invaded country and assist its people.
Reps. Seth Moulton and Jake Auchincloss, both Democrats, joined two Republican representatives — Mike Gallagher of Wisconsin and Peter Meijer of Michigan — in proposing the bill which would allow for funds from seized assets of sanctioned individuals to be permanently reallocated for humanitarian assistance and reconstruction efforts in Ukraine, according to a release from Moulton.
“Some Russian oligarchs think they can ride out this war on their yachts in the Mediterranean,” said Moulton 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.”
Moulton added in the release that the “U.S. will do everything in its power to seize their assets for good,” to “put them to good use,” and that it will serve as a reminder to the oligarchs about their “acquiescence” to the destruction of Ukraine.
“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 added in a statement.
The release said that wealthy Russians are currently attempting to wait out temporary seizures of their superyachts and mansions, and that should the bill pass and become law, the value of seized Russian yachts alone would amount to “billions of dollars.”
The release also quoted the two other representatives, with Gallagher saying that the war in Ukraine has killed thousands and displaced millions and that the “cost of this humanitarian crisis should be paid for by Putin and the cronies who have supported him.”
Gallagher added that the bill is “an obvious way to punish these thugs and increase aid to Ukrainians,” with Meijer stating “we will use every economic sanction available to economically isolate anyone who is complicit in Putin’s terror.”
Moulton, of the state’s 6th congressional district comprising most of the North Shore, and Auchincloss, of the state’s 4th congressional district comprising areas west and southwest of Boston, both are Marine veterans who served overseas with Moulton having served in Iraq and Auchincloss in Afghanistan.
Source:
Chris McLaughlin