AMN / WEB DESK
Russian President Vladimir Putin has signed a decree to allow seizure of US properties inside Russia, in response to the US’s potential confiscation of Russian assets. According to the decree, the Russian Central Bank and Russian entities will have the right to seek legal redress in court in case of the unlawful seizure of properties by the United States.
A special commission of the Russian government will identify US assets or properties, including movable and immovable US properties in Russia, securities, shares in Russian enterprises, and property rights, which can be used to compensate for losses incurred. The government has been given four months to introduce amendments to Russian legislation to facilitate the implementation of the decree.
US President Joe Biden in April signed into law the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows the administration to seize the roughly 5 billion dollar in Russian state assets located in the US.