Putin's Decree: Russia Eyes American Assets for Confiscation

World » RUSSIA | May 23, 2024, Thursday // 17:19
Bulgaria: Putin's Decree: Russia Eyes American Assets for Confiscation @Pixabay

Russia is preparing to identify American assets for potential confiscation in retaliation for any seizure of its own assets in the United States, as reported by Reuters. A decree issued by Russian President Vladimir Putin has authorized a special commission to compile a list of assets that could be targeted, encompassing real estate, stocks, movable assets, and property rights.

With more than 300 billion USD of Russian assets frozen in Western banks due to declining investment from Western nations, Russia lacks direct means to respond to asset seizures. However, it may opt to focus on confiscating assets belonging to private companies, according to economic experts cited by Reuters.

As per the Russian publication "Kommersant," Putin has instructed his government to devise a method for compensating Russia for damages resulting from what it views as hostile actions by the USA.

The US Senate passed a bill on April 24 that includes provisions for transferring frozen Russian assets to Ukraine, exacerbating tensions between the two countries.

In January 2022, "RIA Novosti" reported that Western companies had approximately 288 billion USD worth of assets in Russia. However, by the end of 2023, this figure had decreased to 215 billion USD, with significant amounts originating from Cyprus and the Netherlands.

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Tags: US, assets, Russia, Putin

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