US SB2918

Amends the REPO Act to allow the President to transfer Russian sovereign assets into the Ukraine Support Fund without full confiscation, enabling the assets to be placed in interest-bearing accounts invested in U.S. Treasury obligations

Requires the Secretary of State to obligate at least $250,000,000 from the Ukraine Support Fund every 90 days for assistance to Ukraine while funds remain available

Mandates presidential reports to Congress within 90 days identifying which G7, EU, and Australian countries hold frozen Russian sovereign assets, with amounts and descriptions, and a separate report within 270 days on Russian assets in non-allied countries

Expresses sense of Congress that the Secretary of State should begin diplomatic efforts within 30 days to persuade allied countries to repurpose at least 5% of Russian sovereign assets in their jurisdictions quarterly for Ukraine's benefit

Recognizes the July 3, 2025 Porto Declaration by the OSCE Parliamentary Assembly, which unanimously called for unlocking the estimated $300 billion in frozen Russian sovereign assets for Ukraine until Russia ends its aggression and agrees to compensate for war damages