Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.
The White House on Thursday unveiled what it described as “President Biden’s ‘comprehensive proposal to hold Russian oligarchs accountable.” The administration is seeking power from Congress to ‘seize and forfeit oligarch assets’, transfer the proceeds to Ukraine and clampdown on sanction evasions.
“This proposal would improve the United States’ ability to work with international partners to recover assets linked to foreign corruption. This proposal would make several amendments to improve our ability to enforce foreign restraint and forfeiture orders in the United States,” the White House said in a factsheet.
It added that the proposals were crafted in close consultation with interagency partners, including the Department of the Treasury, the Department of Justice, the Department of State, and the Department of Commerce.
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