REPO Act Passage Has Authorized Biden To Confiscate Russian Assets & Transfer To Ukraine

“When the House voted to pass Biden’s long sought after foreign aid package Saturday, which will deliver over $60 billion to Ukraine, included in this was passage of the REPO Act, which paves the way for the Biden administration confiscate billions in Russian sovereign assets which sit in US banks.”

Hmm…now that we’ve legalized steeling other people’s stuff,I wonder if other countries will now be less inclined to make investments in the American economy…

REPO Act Passage Has Authorized Biden To Confiscate Russian Assets & Transfer To Ukraine | ZeroHedge

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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