Proceeds from some of the seized assets would go to help rebuild Ukraine. The White House has resisted congressional efforts to dictate sanctions policy, however.
U.S. Policy
The war in Ukraine has already rippled through the U.S. economy and complicated the Fed’s moves to cool down inflation.
A Republican boycott over Raskin’s nomination has also held up any votes on Biden’s other picks for the Fed.
The Ukrainian leader on Friday pushed Biden to further punish Putin for Russia’s invasion.
“Basically all of our economic activity has stopped,” said a member of the Ukraine parliament. “The only way our economy survives currently is the help from the West.”
The U.S. is set to announce the move in tandem with the G-7 and the European Union, according to a person familiar with the matter.
The Senate vote now sends the measure to President Biden for his signature, capping off a fierce, urgent push in the nation’s capital to respond to the geopolitical unrest roiling Europe as a result of Russia’s invasion.
The staggering figures prompted the DOJ to redouble its enforcement efforts to carry out President Biden’s mission to pursue “the criminals who stole billions in relief money.”
They must pass a new spending bill by Friday to avoid a government shutdown, and the package is supposed to include $14 billion in Ukraine assistance.
Penalties on members of ‘Russia’s Senate’ not expected imminently but reflect attempt to expand sanctions regime
Lawmakers are also working on a massive spending bill to fund U.S. government operations.
The agreement, reached between leaders on House and Senate finance committees, would still need to be approved by the full House and Senate.
“The taxes that these companies pay in Russia finance bombs that kill our military and innocent civilians,” says the letter from an ally of Ukrainian President Volodymyr Zelensky.
An increasing number of Republicans and Democrats are calling for a U.S. import ban to punish President Vladimir Putin.
The new demands, delivered in two letters to Senate Majority Leader Charles E. Schumer (D-N.Y.), could slow down lawmakers’ work at a time when Russia’s incursion into Ukraine is intensifying — all the while the U.S. government faces a looming March 11 deadline to pass a new spending measure or suffer a shutdown.
- Podcast
- Opinion
As Russia intensifies its invasion of Ukraine, James Hohmann sits down with the chairman of the House Intelligence Committee to discuss the U.S. response, and what’s next in the Jan. 6 inquiry.
New sanctions corresponded with a vast, ever-expanding campaign in Washington to consider a slew of new penalties that might take aim at the heart of the Russian economy.
Lawmakers must reach a spending agreement by March 11, and Congress is at odds over what to include in a big funding package.
The new warning arrived in a letter led by Sen. Mitt Romney as the Biden administration asks Congress for more aid.
The U.S. is expected to in the coming days announce new sanctions against Vladimir Putin's financial allies.
