Russian President Vladimir Putin issued a decree on Thursday enabling the government to confiscate American assets in Russia, encompassing real estate and belongings. This is in response to potential US seizures of Russian assets.
Vladimir Putin, the president of Russia, signed an order on Thursday that allows the government to legally seize any American assets located in Russia, including real estate and possessions.
This is retaliation and a way to make up for any Russian assets that the US may seize; at the same time, Washington and the EU are moving forward with a collaborative plan to use frozen Russian assets to make money for Ukraine’s defense.
However, according to reports, the Kremlin is just preparing this new operation in case the US and Europe completely seize or pilfer the currently blocked funds.
Many of the assets of foreign investors have been transferred by the government to special accounts in anticipation of the retaliatory action, from which money cannot be removed without the express approval of the Kremlin.
As stated in the official state media announcement:
As part of the move, movable and immovable property of the United States, American companies and citizens on the territory of Russia, as well as securities owned by them, shares in the authorized capital of Russian companies and other property rights of the United States and Americans in the country will be subject to seizure.
Under the decree, the Russian copyright holder (in this case – Russian government or the Central Bank) has the right to “apply to the court… with a claim to establish the fact of unjustified deprivation of his rights to property due to a decision by a US state or judicial authority and to receive compensation for said damage.”
Further information from Russian media states that “Putin’s decree gives the government four months to prepare the legal framework for the mechanism and submit the relevant proposals to parliament for consideration.”
Furthermore, “The court will be able to grant compensation in the form of property physically present in Russia, shares in Russia-registered businesses and property rights. A governmental commission will be responsible for compiling the list of those who could be targeted for compensation.” The majority of significant US corporations have already left Russia in the early months after the invasion in February 2022.
Ursula von der Leyen, the president of the European Commission, revealed this week how the West views Russia’s economic policies. She mentioned China a lot, but she also declared, “I don’t think that we are in a trade war. I have the motto: ‘de-risk not decouple’, and I think here it’s very clear we are in the category of de-risking from China. We have decoupled from Russia.”
Last year, GreatGameIndia reported that according to a report by Aerotime, the US had obtained a warrant to seize a Boeing 737 owned by Russia’s Rosneft.
Support GreatGameIndia
