S.Amdt. 6356

The amendment, titled the REPO for Ukrainians Implementation Act of 2026, aims to add a new subtitle to the bill to modify the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act. Its primary purpose is to establish a process for using Russian sovereign assets to provide assistance to Ukraine.

Key changes and additions include:

• Recognition of the Porto Declaration: It adds recognition of a declaration calling for participating states to unlock the value of an estimated $300 billion in frozen Russian sovereign assets to compensate Ukraine.

• Asset Transfers and Investment: It allows the President to transfer Russian aggressor state sovereign assets into the Ukraine Support Fund without confiscating them. The Secretary of the Treasury is required to invest funds in the account that are not needed for current withdrawals into U.S. interest-bearing obligations.

• Funding Obligations: It authorizes the Secretary of State to obligate at least $250,000,000 from the Fund every 90 days to assist Ukraine, provided funds remain.

• Diplomatic Engagement and Reporting: The President must report on the location and status of Russian sovereign assets in both covered countries (Australia and G7 or EU members, excluding the U.S.) and non-covered countries. It also expresses the sense of Congress that the Secretary of State and Treasury should persuade covered countries to repurpose at least 5 percent of those assets quarterly for Ukraine.

• Legal and Technical Fixes: The amendment modifies judicial review provisions and makes several technical clerical corrections to the existing Act.