S.Amdt. 6721

This amendment, submitted by Mr. Whitehouse, adds a new title to H.R. 5334 called the REPO for Ukrainians Implementation Act of 2026. Its purpose is to establish a framework for utilizing Russian sovereign assets to provide assistance to Ukraine.

The amendment aims to add the following to the bill:

• Recognition of the Porto Declaration: It acknowledges a declaration by the Organization for Security and Cooperation in Europe that calls for repurposing an estimated $300 billion in frozen Russian sovereign assets for Ukraine.

• Ukraine Support Fund Management: It allows the President to transfer Russian aggressor state sovereign assets into the Ukraine Support Fund without confiscating them. It also requires the Secretary of the Treasury to invest these funds in U.S. interest-bearing obligations.

• Fund Distribution: It authorizes the Secretary of State to spend at least $250,000,000 from the Fund every 90 days for Ukrainian assistance, provided funds are available.

• International Coordination and Reporting: It requires the President to report on the location and status of Russian sovereign assets in both "covered countries" (G7 members, EU members, and Australia) and non-covered countries. It also expresses the sense of Congress that the U.S. should diplomatically persuade covered countries to repurpose at least 5 percent of those assets quarterly for Ukraine.

• Legal and Technical Updates: It modifies judicial review provisions and makes several clerical and technical corrections to the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act.