US Treasury Orders Banks To Report Russian Assets For Eventual Forfeiture

Earlier this year Congress passed the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act. Which would facilitate the confiscation of the Russian assets that were frozen when Russia invaded Ukraine.

On Tuesday night, the US Treasury took the next step towards an outright confiscation by ordering US banks to start disclosing its holdings of Russian assets, 'with the goal of eventually seizing those assets and selling them to aid the Ukrainian economy.'

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Arcadia Economics

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