The Upper House will allow the Government to appropriate Russian assets frozen in the country


The United States Senate approved this Tuesday a law that will allow the national ban of the TikTok platform if its Chinese parent company ByteDance does not disassociate itself from it, while it has also given the ‘green light’ to another regulation that enables the US Government to appropriate of Russian assets frozen in the country worth about 6 billion euros.

This legislation will give ByteDance 270 days to sell TikTok so that it is not removed from the country’s application stores and from American Internet services, as published by the CNN television network.

The countdown will begin when the president of the country, Joe Biden, signs the law, and he may extend the deadline for another 90 days if he believes that progress is being made towards the sale of the platform.

During the same vote, senators also approved using frozen Russian assets to financially help Ukraine, as well as a multibillion-dollar aid package to Ukraine, Israel and Taiwan worth a total of about €90 billion, more than half of which will go to kyiv.

ByteDance intends to exhaust all legal remedies before considering any type of divestment if the TikTok ban becomes law, people familiar with the matter tell Bloomberg.