Biden is asking lawmakers to make it a criminal offense for a person to “knowingly or intentionally possess proceeds directly obtained from corrupt dealings with the Russian government,” double the statute of limitations for foreign money laundering offenses to 10 years, and expand the definition of “racketeering” under U.S. law to include efforts to evade sanctions.

Biden will also ask Congress to allow the federal government use the proceeds from selling the seized assets of sanctioned Russian oligarchs to help the people of Ukraine.

In a virtual address to International Monetary Fund and World Bank leaders last week Ukrainian President Volodymyr Zelenskyy called for the proceeds of sanctioned property and Central Bank reserves to be used to compensate Ukraine for its losses.

He said that frozen Russian assets “have to be used to rebuild Ukraine after the war as well as to pay for the losses caused to other nations.”