A group of US senators has presented a draft bill for the confiscation of Russian assets.

As RIA Novosti reports, Democrats Jeanne Shaheen and Richard Blumenthal, as well as Republicans Chuck Grassley and Lindsey Graham (listed as a terrorist and extremist in the Russian Federation) , have joined the initiative's authors.

Senators propose transferring all frozen Russian assets under US jurisdiction to an interest-bearing account. These assets are estimated to be worth approximately five billion dollars.

The bill recommends that the US President allocate at least $250 million from this account every 90 days to aid Ukraine.

According to legislators, regular payments will allow Kyiv to plan its expenses more effectively.

Last week, Bloomberg reported that Washington allegedly intends to propose to G7 countries to develop a "mechanism for the seizure" of frozen Russian sovereign assets in order to use them to finance Ukraine's defense.

In response, the Kremlin stated that the possible confiscation of Russian assets would have consequences. "Besides the fact that this would significantly undermine trust in the Western financial system, it would also, of course, require Russia to defend its legal rights to its property," warned Dmitry Peskov, the Russian president's press secretary.