Grassley, Colleagues Introduce Bipartisan REPO Implementation Act to Repurpose Russian Assets and Support Ukraine

Grassley, Colleagues Introduce Bipartisan REPO Implementation Act to Repurpose Russian Assets and Support Ukraine

Legislation would send frozen Russian sovereign assets to Ukraine on a quarterly basis

BUTLER COUNTY, IOWA - Sen. Chuck Grassley (R-Iowa) joined Senate Foreign Relations Committee Chairman Jim Risch (R-Idaho) and Sen. Sheldon Whitehouse (D-R.I.) to introduce the REPO Implementation Act of 2025.

The bipartisan legislation would repurpose frozen Russian sovereign assets held in the United States for transfer to Ukraine every 90 days. The legislation builds off the Grassley-backed Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act, which was signed into law in April 2024.

"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.

"Today, more than $300 billion in Russian sovereign assets remain frozen globally," Risch said. "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."

"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," Whitehouse said. "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."

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

Background:

The Grassley-backed Rebuilding Economic Prosperity and Opportunity (REPO) for Ukrainians Act allows frozen sovereign assets of the Russian Federation to be used, including through seizure, for rebuilding Ukraine. There is roughly $300 billion in Russian assets frozen within the jurisdiction of the United States and its Group of Seven (G7) allies - Canada, France, Germany, Italy, Japan and the United Kingdom.

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:

1. Transfer the estimated $5 billion in frozen Russian sovereign assets under United States jurisdiction to an interest-bearing account;
2. Encourage the president to repurpose at least $250 million from that account to benefit Ukraine every 90 days;
3. 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 five percent (approximately $15 billion) in Russian sovereign assets to benefit Ukraine every 90 days;
4. Require reports on Russian sovereign assets held outside of the United States; and
5. Effectuate technical corrections to the original REPO for Ukrainians Act.

Full text of the legislation can be found HERE.

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