; or (2) sovereign assets of the Government of the Russian Federation or owned by the Central Bank of such country. (b) Disposition of proceeds from sale of assets The proceeds from the sale of any asset seized or confiscated pursuant to the authority provided by subsection (a) before the date described in subsection (c)(1)— (1) shall first be made available, without subsequent appropriation, to reimburse the United States for expenses incurred during the period beginning on February 24, 2022, in connection with the Ukraine-Russia conflict; and (2) to the extent such proceeds exceed the total expenses described in paragraph (1), are authorized to be made available, only for expenses incurred on or after such date of enactment in connection with such conflict. (c) Report Not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, the Secretary of the Treasury shall submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a report that specifies the amount remaining of the proceeds described in subsection (b) as of the date of the submission of the report and itemizes each expenditure of such proceeds as of such date of submission. (d) Rule of construction Nothing in this Act may be construed to authorize the imposition of sanctions or to alter or affect any existing authority to impose sanctions that is in effect on the date of the enactment of this Act.