The US has come up with a way to combat the Russian shadow fleet while also addressing its national debt through a single solution.

A new bill has been introduced in the US aimed at tackling Russia’s shadow fleet of tankers that that are employed to transport oil, circumventing Western sanctions related to the war in Ukraine.

Senators Joni Ernst (Republican) and Richard Blumenthal (Democrat) have proposed establishing a $150M fund in 2025 to monitor the shadow fleet. The fund’s objective would be to intercept vessels carrying raw materials from Russia and Iran as they transport oil to India and China in violation of sanctions. The confiscated oil would be sold, and the proceeds would go towards repaying the US’ national debt.

“In addition to disrupting Moscow’s malicious attempts to evade American law, this legislation would also enable our country to utilize seized assets to pay down its own debt,” Ernst stated.

Blumenthal added: “These measures will provide real sharpness to our export controls.”

The bill’s future in Congress remains uncertain, though measures against Russia and Iran generally receive bipartisan support.