Adam Schiff presented a bipartisan bill on confiscating Azerbaijan’s financial assets and compensating Artsakh Armenians

US Congressman Adam Schiff has presented a bipartisan bill that envisages confiscating Azerbaijan’s financial assets and thereby compensating forcibly displaced Artsakh citizens.

In the period between September 19-20, 2023, the Republic of Azerbaijan launched a military attack on the Republic of Artsakh. The massive invasion was preceded by a year-long blockade of the region. After the military attack, more than 120,000 Armenians were displaced from their homes.

Azerbaijan’s continuous actions against the people of Artsakh have created a humanitarian disaster and are tantamount to ethnic cleansing.

The points of the document state that Azerbaijan should bear responsibility for the damages caused by the military attack in Artsakh. In addition, all US financial organizations must submit documents about Azerbaijan’s sovereign assets to the Foreign Assets Control Office of the Ministry of Finance. Within 60 days after the adoption of the bill, the president is obliged to block transactions related to financial assets of Azerbaijan, and within 90 days from the date of blocking, to confiscate them. 180 days after the date of entry into force of the law, the US President must open an account under the name “Artsakh Income Recovery Fund”. and collect the amounts to be reimbursed there.

Certain prohibitions have also been imposed on issues related to the granting of visas and personal property to the high-ranking officials of Azerbaijan and their family members who participated in the military attack against Artsakh.