US Should Seize Sanctioned Russia Assets, Vessels, Lawmakers Say
The U.S. should begin seizing the financial and physical assets of sanctioned Russian people and entities instead of just freezing them, said Sen. Rob Portman, R-Ohio. He said other countries have started seizing Russian vessels, such as France, which recently seized a car cargo ship in the English Channel with ties to the son of a former Russian spy chief, according to a Reuters report.
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“I think we should move from just freezing assets, which we do under our sanctions, to actually seizing the assets that are here in the United States that are tied to the Kremlin and tied to the oligarchs that support Vladimir Putin,” Portman said on a March 1 call with reporters. “Seizing these assets instead of just freezing them is is a way to increase the pressure.” The White House didn’t comment.
A new House bill could allow the U.S. to seize yachts and other vessels in U.S. waters that belong to sanctioned Russian oligarchs. The bill, introduced March 1 by Rep. Don Young, R-Alaska, could allow the U.S. to target Russian-owned vessels that fly flags of convenience from foreign countries.
“I continue supporting severe sanctions to devastate Putin's ability to use Russia's economy as a piggybank to commit global atrocities, but we must do more,” Young said in a recent statement. The Bringing Oligarch Accountability Through Seizure Act, or BOATS Act, would also allow the government to auction the vessels and deliver the proceeds to humanitarian aid efforts. “We must send a message of zero tolerance for Russian aggression, which requires us to make life as difficult as possible for Putin's sycophants,” Young said.