Biden delegates authority to finance Ukraine to Treasury, State Dept Secretaries

10:29, 23.07.2024 1 min read

A memorandum on the delegation of certain functions and authorities of the U.S. President regarding financial support for Ukraine was published on the White House website on July 22.

The document says that Treasury Secretary Janet Yellen and U.S. Secretary of State Antony Blinken have been transferred “the functions and authorities vested in the President” by some sections of the Law on Rebuilding Economic Prosperity and Opportunity for Ukrainians Act.

In particular, it’s about some provisions of the law that gives the president the authority to confiscate Russian assets in favor of Ukraine.

“The delegations in this memorandum shall apply to any provisions of any future public laws that are the same or substantially the same as those provisions referenced in this memorandum,” the document reads.