When we first came up with the Magnitsky act, the idea was that we didn't want the perpetrators of crimes and corrupt officials to enjoy the benefits or the fruits of their criminal activity. The idea was to freeze their assets. It was sort of a half-baked idea, because we hadn't fully thought through what we would do with those assets once they're frozen.
Since then, I've worked with various of your colleagues in Canada on what is called the frozen assets repurposing act, which is this concept of taking those frozen assets and repurposing them for the benefit of victims. Since then, I've worked on the concept that the frozen Russian central bank reserve should be confiscated.
I'm not specifically familiar with the mechanisms in the provision that you mentioned, but I would say that this is the logical next step: Once you've frozen these assets that belong to corrupt individuals and human rights violators, something should be done with those assets. How that should be done I will leave to the legal experts, who are probably more familiar with the issues than I am.
