Prime Minister of Ukraine Denys Shmyhal says a bill on the seizure of Russian assets in favor of the restoration of Ukraine has been submitted to the U.S. Congress.

"Another step towards the seizure of frozen Russian assets in favor of Ukraine. A bill on the seizure of assets in favor of the restoration of Ukraine (The Asset Seizure for Ukraine Reconstruction Act) has been introduced into the American Congress. Among its co-authors are both Democrats and Republicans," Shmyhal said in Telegram channel.

According to him, the bill will provide the U.S. Department of Justice the necessary tools to quickly seize the assets of sanctioned Russian oligarchs.

"The income from these assets will be transferred to Ukraine for our stability and recovery. We hope for the speedy adoption of this initiative. We are working to ensure that all Russian money frozen in the West, including sovereign assets, is seized in favor of Ukraine," Shmyhal said.