The administration of U.S. President Joe Biden has endorsed legislation that would allow the confiscation of around $300 billion from frozen Russian assets and redirect these funds towards the reconstruction of Ukraine, according to Bloomberg. In the National Security Council (NSC) memorandum of the Senate Committee on Foreign Relations, it is mentioned that the proposed legislation would grant the executive branch the authority necessary for the confiscation of Russian sovereign assets for the benefit of Ukraine. It is noted that the White House aims to coordinate this move with allies from t…