A bipartisan group of senators unveiled legislation Tuesday that would allow the government to seize and sell assets of Russians who have been blacklisted.
The bill has bipartisan support in the House and Senate.
The legislation states that funds derived from the sale of assets would only be used for the benefit of the people of Ukraine.
Funds would be used to circumvent Russian efforts to shut down internet or communication services in order to curb Russian censorship.
The bill doesn't specify how much cash rewards would be, but people who provide information leading to the seizure of assets would be eligible.
The proposal gives the Department of Justice more latitude to act quickly in preventing the liquidation of assets by Russians.
Whitehouse, Graham, and Blumenthal said in a Tuesday statement.
The White House did not immediately respond to Forbes request for comment on the proposal, which builds on a bipartisan House bill introduced earlier this month.
Russian President Vladimir Putin and his cronies use their dirty money to purchase mansions, mega-yachts, artwork, and other high-value assets in rule-of-law nations.
The White House has imposed a number of sanctions against Russia, targeting its tech, defense seafood, alcohol and energy industries, as well as the Central Bank of Russia. The U.S. and its allies have imposed sanctions on 20 Russian billionaires. According to The Economist, 70% of Russian billionaire wealth is tied to crony capitalism, in which businesses collude with government officials to share favors and profits.
The legislation comes as the Biden administration faces growing pressure to tighten sanctions against Russia. Ukrainian President Volodymyr Zelensky is expected to repeat that request when he addresses Congress on Wednesday.
The US should offer cash rewards to find Russian assets.
The leaders of Poland, Czech Republic and Slovenia will be in Kyiv on Tuesday.
There is a tracker that looks at the impact of sanctions on Russian billionaires.
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