ANCA Backs Passage of Artsakh Revenue Recovery Act
WASHINGTON–Congressman Adam Schiff (D-Calif.) – the ANCA endorsed candidate for California’s U.S. Senate seat – has introduced a bipartisan bill to seize Azerbaijani assets for transfer to an Artsakh Revenue Recovery Fund that would be established to compensate Armenians forcibly driven from Artsakh for lost revenue resulting from Azerbaijan’s genocidal ethnic cleansing.
“Azerbaijan’s continued actions against the people of Artsakh have created a humanitarian disaster and amounted to ethnic cleansing,” said Rep. Schiff upon introduction of the measure. “We must ensure that those responsible are held accountable and that the innocent victims of Artsakh are compensated for their immense losses. My legislation will provide a mechanism for justice and financial restitution for those who have lost everything due to Azerbaijan’s aggression.”
In a statement submitted to the Congressional Record marking the first anniversary of Azerbaijan’s military assault on Artsakh and the subsequent genocidal forced depopulation of Artsakh’s indigenous Armenian population, Rep. Schiff stated: “Azerbaijan must accept responsibility for the enormous humanitarian crisis that its blockade and military assault on Artsakh created. It must release the hostages and prisoners and commit to the preservation of Armenian cultural heritage. It must assure those who have property in Artsakh the ability to return to their ancestral home and to rebuild their lives and ease the suffering of refugees now. Azerbaijan must accept the responsibility to compensate lost revenue of those who left Artsakh. This compensation cannot fully address the disruption to lives. But, it is an important start to address the current suffering of those who lost so much.”
“We join with Congressman Schiff in seeking U.S. Presidential authority to seize Azerbaijani assets and transfer them to an Artsakh Revenue Recovery Fund – a bold move to secure a measure of justice for Azerbaijan’s crimes against Artsakh and the Armenian nation,” said ANCA Executive Director Aram Hamparian. “Our ANCA national board, regional bodies, and local chapters are proud to have endorsed Adam Schiff – a longtime champion of our community – in his race for the U.S. Senate seat from California and encourage Armenian Americans from across the Golden State to vote and volunteer for his campaign,” added Hamparian.
“Thank you, Congressman Schiff, for your unwavering commitment to the Armenian people and causes. This bill is the embodiment of human rights, dignity, compassion, fairness, and justice for the people of Artsakh and their eventual return to their homeland after the ethnic cleansing of Artsakh carried out by Azerbaijan,” said ANCA Burbank Chair Sarkis Simonian.
The ANCA has issued a nationwide call to action to secure support for the bill, available at anca.org/recovery.
Joining Rep. Schiff as original cosponsors of the bipartisan measure are Congressional Armenian Caucus Co-Chair Frank Pallone (D-NJ) and Representatives Gabe Amo (D-RI), Joyce Beatty (D-OH), Jim Costa (D-CA), Anna Eshoo (D-CA), Josh Gottheimer (D-NJ), Doug LaMalfa (R-CA), Seth Magaziner (D-RI), James McGovern (D-MA), Grace Meng (D-NY), Kevin Mullin (D-CA), Grace Napolitano (D-CA), Eleanor Holmes Norton (D-DC), Jan Schakowsky (D-IL), Linda Sánchez (D-CA), Brad Sherman (D-CA), Dina Titus (D-NV), and Lori Trahan (D-MA).
Notably, the bill reaffirms the right of return for Artsakh’s Armenians by recognizing their property rights. Compensation through asset seizures will not transfer ownership of Armenian property, ensuring Armenians can reclaim their homes and businesses.
Schiff’s Artsakh Revenue Recovery Act would:
- Require all U.S. financial institutions holding Azerbaijani sovereign assets to report these assets to the U.S. Treasury’s Office of Foreign Assets Control. Within 60 days of enactment, the President must block transactions involving these assets, and within 90 days of blocking, seize them.
- Establish the Artsakh Revenue Recovery Fund which will receive seized Azerbaijani assets and then use those funds to provide compensation to eligible Armenians displaced from Artsakh for lost revenue from their property, businesses, and employment due to the military assault by Azerbaijan.
- Seize personal assets in the United States and create visa restrictions on senior Azerbaijani officials and their immediate family members who were involved in or supported the military offensive against Artsakh.
- Establish a streamlined process for eligible displaced Armenians to submit claims for compensation from the Fund.
In 2019, the U.S. House passed Schiff’s resolution officially recognizing the Armenian Genocide with broad bipartisan support.
Schiff invited Artsakh’s former Representative to the U.S., Robert Avedissyan, to the 2023 State of the Union Address by President Joe Biden, providing a platform for awareness about Azerbaijan’s blockade of Artsakh, which was already underway for three months at the time of the event.
Schiff also introduced a resolution in Congress on April 24, 2023, calling for the recognition of Artsakh’s independence and self-determination, while condemning Azerbaijan for its continued aggression against Artsakh and Armenia.
