Bill Overview
Title: RUSSIA Act
Description: This bill directs the President to seek to enter into an agreement with other countries that have frozen the assets of Russia's central bank to (1) transfer the frozen assets into a single account at an international financial institution, and (2) distribute such assets to provide for the reconstruction of Ukraine after the cessation of hostilities in Ukraine.
Sponsors: Rep. Morelle, Joseph D. [D-NY-25]
Target Audience
Population: Ukrainian citizens benefiting from reconstruction
Estimated Size: 100000
- The bill seeks to utilize frozen Russian central bank assets for Ukraine's reconstruction, affecting individuals and entities related to those assets and Ukraine's population.
- The primary impact will be on Ukrainian citizens who will benefit from reconstruction efforts funded by these assets.
- Entities and individuals related to the Russian central bank and the Russian government could be impacted as assets are redirected.
- The global community involved in asset freezing and reallocating such assets are stakeholders in this process, including international financial institutions.
Reasoning
- The primary impact of the RUSSIA Act will be felt by Ukrainian citizens, especially those living in Ukraine. However, there could be secondary effects on US residents, particularly among the Ukrainian diaspora, Americans with businesses or charitable interests in Ukraine, and more broadly through geopolitical and economic channels.
- The budget for this policy is substantial but not directly funding US individuals, thus the direct financial impact on individual Americans might be low unless they have a direct stake in Ukraine's rebuilding process or related international business interests.
- We will focus on a mix of individuals who have varying degrees of connection to the targeted efforts, such as members of the Ukrainian diaspora, businesses involved in global finance possibly affected by reallocations, and everyday citizens potentially affected indirectly by geopolitical shifts.
Simulated Interviews
International Aid Worker (Chicago, IL)
Age: 32 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- This policy is essential for aiding the reconstruction of Ukraine, where my family still lives.
- My work involves coordinating aid efforts, which might be positively impacted by the policy.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 6 |
Finance Executive (New York, NY)
Age: 45 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- The policy could shift some financial markets as assets are redirected.
- My firm may need to adjust if exposed to Russian banking sectors.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 8 |
| Year 2 | 7 | 8 |
| Year 3 | 7 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 7 | 7 |
Retired Teacher (Los Angeles, CA)
Age: 60 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 9/20
Statement of Opinion:
- I support efforts like this policy as they show international unity.
- The policy wouldn't affect me directly, but it's good for global peace.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Software Engineer (San Francisco, CA)
Age: 29 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 15.0 years
Commonness: 5/20
Statement of Opinion:
- This policy could help restart technology infrastructure in Ukraine, directly affecting my relatives.
- I'm hopeful but cautious about how effectively it will be implemented.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 9 | 7 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 5 |
Small Business Owner (Miami, FL)
Age: 50 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- Stability in Ukraine would be good for my business's Eastern European supply chain.
- Concerned about potential instability if the policy fails.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Graduate Student (Seattle, WA)
Age: 27 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- Interested in how the policy will affect global diplomacy.
- This aligns with what I study, but has limited direct impact on my life.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
HR Manager (Houston, TX)
Age: 42 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- My spouse has relatives needing help in Ukraine. This policy might aid them indirectly.
- I'm supportive because it seems beneficial for family abroad.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 5 |
Economist (Boston, MA)
Age: 38 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- I'm interested in how these financial shifts might reflect broader economic trends.
- This policy represents a new form of international economic collaboration.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Non-profit Director (Denver, CO)
Age: 54 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 2/20
Statement of Opinion:
- We hope to secure more funding and partnerships because of this policy.
- It strengthens international ties and could increase support for our programs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 7 |
Journalist (Phoenix, AZ)
Age: 40 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 6/20
Statement of Opinion:
- This policy is newsworthy for its geopolitical impacts.
- I'm interested in how the shifts affect global relations, though I won't be directly affected.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Cost Estimates
Year 1: $100000000 (Low: $50000000, High: $200000000)
Year 2: $50000000 (Low: $25000000, High: $100000000)
Year 3: $50000000 (Low: $25000000, High: $100000000)
Year 5: $30000000 (Low: $15000000, High: $80000000)
Year 10: $10000000 (Low: $5000000, High: $30000000)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The success of the policy depends on international cooperation and the willingness of other countries to consolidate and reallocate frozen Russian assets.
- There exists a political and diplomatic complexity in convincing other nations and navigating international law to achieve asset reallocation.
- Monitoring and evaluating the effective use of these assets in Ukraine's reconstruction will be crucial to the policy's success.