This is stated on the website of the Senate.
“War criminal Putin’s oligarchs have played a major role in financing the mass murder of Ukrainians while lining their own pockets and benefitting from freedoms they actively work to destroy. This commonsense legislation provides a clear mechanism to expedite the seizure of Putin-connected illicit assets and transfer those funds to support Ukraine. Putin and his cronies will be held accountable for the death and destruction they have caused,” said Congressman Joe Wilson, one of the bill's authors.
Russian oligarchs, who are closely linked to the Russian government, helped finance the war against Ukraine. A bill that makes it easier to confiscate their ill-gotten assets will help Ukraine recover from the conflict.
“All the Russian oligarchs – Putin’s partners in crime – should lose their yachts, luxury apartments, and pay a price for being part of a thuggish group – a nation-state that really is a mafia-state. I want to see the Department of Justice, Treasury, and law enforcement partners go in and take apartments, fine art, and seize yachts from a bunch of thugs and crooks. This is an important step in the effort to push back against Putin and his misadventures,” said Senator Lindsey Graham.
“Our bipartisan bill holds accountable the cruel enablers of Putin’s murderous invasion of Ukraine. By providing necessary authorities to U.S. law enforcement, it will enable swift seizures of super yachts, jets, mansions, penthouses, and other luxury assets belonging to Putin’s partners in conflict to support the brave Ukrainian freedom fighters,” said Senator Richard Blumenthal.
The draft bill will simplify the confiscation of assets of Russian oligarchs and other persons associated with the Russian government, regardless of their value. In addition, the draft law guarantees that all funds received from the confiscation of these assets will be used to rebuild Ukraine.