Shaheen, Whitehouse, Risch, Colleagues Introduce Bipartisan REPO Implementation Act

WASHINGTON - Today, U.S. Senators Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, Sheldon Whitehouse (D-RI), Senate Ranking Member of the Commission on Security and Cooperation in Europe (U.S. Helsinki Commission), Jim Risch (R-ID), Chairman of the Senate Foreign Relations Committee, Chuck Grassley (R-IA), Richard Blumenthal (D-CT) and Lindsey Graham (R-SC) introduced the REPO Implementation Act of 2025, bipartisan legislation to repurpose frozen Russian sovereign assets held in the United States for transfer to Ukraine every 90 days. The legislation would build off Whitehouse and Risch's Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act, which passed into law in April 2024.

"Russia's illegal war in Ukraine has caused staggering destruction and loss of life and Putin must be held accountable," said Shaheen. "Repurposing Russia's frozen sovereign assets is a necessary step to ensure Ukraine has the resources to defend itself and rebuild its communities. Importantly, this approach allows us to continue supporting Ukraine without additional cost to American taxpayers. This legislation demonstrates the strong, bipartisan resolve in Congress to keep standing with Ukraine. I urge the administration and our allies to follow through on this effort to make Russia pay the price for its aggression."

"Vladimir Putin and his corrupt regime must continue to pay for the brutal invasion of their peaceful neighbor. Russia's frozen sovereign assets are the most appropriate target to give Ukraine the support it needs to defend and rebuild itself," said Whitehouse. "REPO 2.0 will encourage the Trump administration and our G7 allies to start seizing frozen Russian assets and distributing them to Ukraine on a settled schedule to ratchet up the economic pressure on Putin."

"Today, more than $300 billion in Russian sovereign assets remain frozen globally," said Risch. "Given Russia's brutality against the Ukrainian people, it was only right that Russian government funds in the United States be seized and repurposed to help Ukraine rebuild its country under the REPO Act. Now, the REPO Implementation Act will encourage our allies to use the Russian assets in their countries to do the same, and ensure that the assets under U.S. control are used pragmatically."

"The REPO Implementation Act would distribute seized frozen Russian sovereign assets on a standard schedule that gives Ukraine certainty about this support and continues to hold accountable the financial backers of Putin's merciless regime. Congress has already come together to allow the transfer of frozen Russian assets to Ukraine, and this bipartisan legislation builds on that successful effort by creating a framework for Ukraine to receive regular investments from that fund. As Putin continues his bloody assault against the people of Ukraine, this bills helps Ukraine defend itself and rebuild," said Blumenthal.

Last October, the United States and G7 allies announced a collective $50 billion loan to Ukraine, to be repaid with funds generated by a subset of Russia's frozen sovereign assets held in Belgium. The United States contributed $20 billion of the $50 billion loan from Russia's proceeds, which was disbursed in December at no cost to taxpayers.

The REPO Implementation Act of 2025 would:

• Transfer all of the estimated $5 billion in frozen Russian sovereign assets under United States jurisdiction to an interest-bearing account;
• Encourage the President to repurpose at least $250 million from that account to benefit Ukraine every 90 days;
• Encourage the Secretary of State (in coordination with the Secretary of the Treasury) to implement a robust, sustained diplomatic campaign to persuade U.S. allies to begin repurposing at least 5 percent (approximately $15 billion) in Russian sovereign assets to benefit Ukraine every 90 days;
• Require reports on Russian sovereign assets held outside of the United States; and
• Effectuate technical corrections to the original REPO for Ukrainians Act.

The full bill text of the REPO Implementation Act is available here.

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