S.Amdt. 6723

The amendment, known as the REPO for Ukrainians Implementation Act of 2026, aims to modify and add to the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act. Its primary purpose is to establish a system for managing and using Russian sovereign assets to assist Ukraine.

Key changes and additions include:

• Recognition of the Porto Declaration: It acknowledges a declaration calling for OSCE participating states to repurpose approximately $300 billion in frozen Russian sovereign assets for Ukraine.

• Asset Management: It allows the President to transfer Russian sovereign assets into the Ukraine Support Fund to be placed in interest-bearing accounts without needing to confiscate the funds first. The Secretary of the Treasury is required to invest these funds in U.S. interest-bearing obligations.

• Funding for Ukraine: It authorizes the Secretary of State to spend at least $250,000,000 from the Fund every 90 days to provide assistance to Ukraine.

• Foreign Engagement and Reporting: The President must report to Congress 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 U.S. should diplomatically persuade covered countries to repurpose at least 5 percent of those assets quarterly for Ukraine's benefit.

• Legal and Technical Fixes: The amendment expands judicial review and makes several clerical and technical corrections to the original Act.