Ukraine faces a twin emergency this winter: a renewed Russian military onslaught and a severe budget shortfall. Despite billions in allied aid since 2022, Kyiv confronts an estimated $35 billion gap, a direct consequence of Moscow's illegal war. A bipartisan bill that would help close that gap by seizing and redirecting Russian assets held in the U.S. has been stalled in the House, raising questions about leadership's commitment to Ukraine's survival.
The PEACE Act: A Popular, Stalled Measure
The PEACE Act (Protecting Europe's Energy Security Act) would compel the transfer of all frozen Russian funds within U.S. jurisdiction to Ukraine, allowing it to purchase defensive weapons and protect critical infrastructure like its energy grid. The measure passed the House Financial Services Committee in July 2025 by a stunning 53-1 vote, with bipartisan backing from Chairman French Hill (R-Ark.) and Ranking Member Maxine Waters (D-Calif.). That margin suggests a veto-proof majority in the full House, yet Speaker Mike Johnson (R-La.) has not brought it to the floor.
Hill has repeatedly tried to force action, including adding the measure as an amendment to the National Defense Authorization Act, but the Rules Committee has twice ignored his requests. On the House floor in June, Hill publicly urged Johnson to schedule a vote, to no avail.
Why Is It Stalled?
The administration's approach to Russia has been criticized as appeasement, with President Trump claiming he is negotiating peace with Vladimir Putin. But those talks have yielded nothing, and the White House has reportedly discouraged the House from acting. The result: a popular, noncontroversial bill that should have passed months ago remains in limbo.
Experts estimate that Russian assets in the U.S. range from $19 billion to $50 billion, though the Treasury has classified the exact figure. In 2024, the Treasury reported only $5 billion in Russian central bank reserves held at the Federal Reserve. The full amount is likely far higher, and redirecting it would provide immediate relief to Ukraine without costing U.S. taxpayers a dime.
What's at Stake
Passing the PEACE Act would not only bolster Ukraine's defenses but also deliver a strategic blow to Russian aggression across Europe. Russia's partnership with Iran has also made it complicit in attacks on U.S. forces in the Middle East, raising the stakes for Congress to act.
As the year ends, lawmakers have a narrow window to pass the bill during the lame-duck session. The recent talks hosted by Melania Trump have done little to ease tensions, and the need for congressional action is urgent.
Congress must reclaim its constitutional role as a coequal branch and force a vote. The PEACE Act is ready, popular, and necessary. The only question is why it hasn't become law.
