She said that she supports the public release of the ads - though she said Congress would have to do so - and when they are released, Facebook would explain to Congress the other details.
Previously, Facebook declined to make the ads public.
Facebook's Chief Operating Officer Sheryl Sandberg, in a recent interview with Axios, addressed the recent controversy over Twitter blocking Rep. Marsha Blackburn's (R-TN) pro-life Senate ads due to her claim that Planned Parenthood sold "baby body parts".
The company disclosed last month that it found ads linked to fake accounts - likely run from Russian Federation - that sought to influence the election. The ads included promoted events and amplified posts that show up in users' news feeds. "We told Congress and the intelligence committees that when they are ready to release the ads, we are ready to help them". Congress is also investigating Russia-linked ads on Twitter and Google.
"Things happened on our platform in this election that should not have happened", Sandberg said in an interview in Washington with Axios news that was broadcast on its website. She said Facebook hopes to "set a new standard in transparency in advertising".
The accounts created to fund the ads and the ads themselves have now been removed, however. While the company prohibits certain content such as hate speech, it does not want to prevent free expression, she said.
"Our answer is yes", Sandberg said, "because when you cut off speech for one person, you cut off speech for all people".
Sandberg was in Washington for meetings with US lawmakers. Before her time at Google and later Facebook, she worked for Larry Summers, the treasury secretary under President Bill Clinton.
"Facebook owes the American people an apology".
Facebook has said those ads focused on divisive political messages, including LGBT issues, immigration and gun rights, and were seen by an estimated 10 million people.
"When the ads get released, we will release the targeting for those ads", Sandberg said.
She said only that the role Facebook plays in elections "go beyond any one campaign, any one country".
Later Thursday, Sandberg met privately with members of the Congressional Black Caucus, where she was pressed on what the company is doing in response to its discovery that numerous ads pushed by Russian-linked accounts were aimed at sowing racial discord.
The interview was the first by a senior Facebook executive since the company disclosed last month that it had found some 3,000 politically divisive ads believed to have been bought by Russian Federation before and after the presidential campaign. The person said the ads were meant to inflame all sides, with some showing white police officers beating black people.
Besides discussing election meddling, the members also pushed for Facebook to improve diversity in its workforce, particularly in its upper management.
The chairman of the CBC, Cedric Richmond, also confirmed the report that Sandberg and the company would be working to add a minority to the board sometime soon. Two, including Sandberg, are women.