Artsakh Revenue Recovery Act of 2024

The Artsakh Revenue Recovery Act of 2024 would establish a U.S. fund to compensate Armenians displaced from Artsakh (Nagorno-Karabakh) after Azerbaijan's military assault in September 2023. It requires the U.S. government to seize Azerbaijani sovereign assets held in the United States if Azerbaijan fails to compensate displaced Armenians for lost revenue from businesses, property, and employment. The bill creates a claims process through which displaced Armenians can submit claims for compensation for revenue lost since September 2023, with the fund paying claims if Azerbaijan does not compensate within 90 days. The Artsakh Revenue Recovery Fund would operate for up to one year after a peace agreement between Azerbaijan and Armenia is signed or until all claims are paid.