Capitalists And Money

House approves bill to divest TikTok, freeze Russian assets

The House passed a measure Saturday that aims to force a sale of TikTok and seize frozen Russian assets to pay for Ukraine’s reconstruction, as well as impose sanctions and other punitive measures against Russia, China and Iran.

The bill, filled with GOP policy sweeteners, was included in Speaker Mike Johnson’s foreign aid funding package as a way to bolster Republican support for tens of billions of dollars in long-delayed aid for Ukraine, Israel and the Indo-Pacific. The House approved the measure in an overwhelming 360-58 vote.