US Congress weighs move to seize $2.5 billion in frozen Russian assets

The US Congress is considering legislation that could allow Washington to seize roughly half of the $5 billion in frozen Russian sovereign assets by 2028 and redirect the funds to support Ukraine, according to an assessment by the Congressional Budget Office (CBO).

In its fiscal projection, the CBO said there is significant uncertainty over whether the US President would authorise the confiscation.

For its estimate, the office assumed a 50% probability that the administration would proceed, resulting in an expected $2.5 billion in seized assets over the 2026–2028 period.

Under the draft bill, around $300 million of the confiscated funds would be temporarily invested in short-term US Treasury securities before being spent, the CBO said.

Interest generated from those holdings would be directed to Ukraine without the need for additional congressional approval, starting the year after the assets are seized.

The CBO estimated that implementing the legislation would raise direct federal spending by around $10 million between 2026 and 2035.

By Aghakazim Guliyev