Des Moines Sun

Senator Chuck Grassley (R-Iowa), along with Senate Foreign Relations Committee Chairman Jim Risch (R-Idaho) and Senator Sheldon Whitehouse (D-R.I.), has introduced the REPO Implementation Act of 2025. This bipartisan bill seeks to repurpose frozen Russian sovereign assets held in the United States for transfer to Ukraine on a quarterly basis.

The legislation builds upon the Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act, which was enacted in April 2024. The new proposal outlines a framework for transferring these assets regularly, aiming to support Ukraine's defense and reconstruction efforts without imposing costs on American taxpayers.

“Putin is determined to reestablish the Soviet empire, and his unprovoked invasion of Ukraine has created the largest land war in Europe since World War II. Our legislation makes Russia pay by repurposing its frozen assets in the United States to help Ukraine defend itself and rebuild, all at no cost to the taxpayer. Congress has already authorized the transfer of frozen Russian assets to Ukraine, and our bipartisan legislation creates a framework for Ukraine to get regular investments from that fund,” Grassley said.

Senator Risch noted that over $300 billion in Russian sovereign assets remain frozen worldwide. “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.”

Senator Whitehouse added: “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. 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.”

Other cosponsors include Senators Jeanne Shaheen (D-N.H.), Richard Blumenthal (D-Conn.), and Lindsey Graham (R-S.C.).

The original REPO Act permits seizure of Russian Federation sovereign assets for rebuilding efforts in Ukraine. Approximately $300 billion remains frozen within jurisdictions controlled by both U.S. authorities and Group of Seven partners such as Canada, France, Germany, Italy, Japan, and Britain.

In October 2024, a joint effort between G7 nations resulted in a $50 billion loan package for Ukraine—$20 billion provided by proceeds from Russian assets under U.S. jurisdiction—which was distributed later that year at no cost to American taxpayers.

Key provisions of this new bill include moving an estimated $5 billion in U.S.-held frozen Russian sovereign assets into an interest-bearing account; urging at least $250 million be transferred every 90 days from this account for Ukrainian benefit; encouraging diplomatic initiatives so that other allied countries commit at least five percent—or about $15 billion—of their own held Russian sovereign funds toward similar goals each quarter; mandating reports regarding foreign-held Russian state wealth; as well as technical updates related to previous legislation.