Putin has authorised the seizure of US property to compensate for "damage caused to Russia"
The list includes securities, stakes in Russian companies, movable and immovable property
Russian dictator Vladimir Putin has authorised the seizure of US assets to "compensate for losses" incurred by the Russian state and the Central Bank "due to Washington's unfriendly actions". The relevant decree was signed on Thursday, 23 May.
According to the decree, the state and the Bank of Russia have the right to go to court if they are "unreasonably" deprived of their property rights by a decision of the US authorities or courts.
In turn, a Russian court may order compensation for damages. This means that the US property will be seized and transferred to the Russian owners.
The list of property that can be seized from the US government or citizens includes securities, shares in the charter capital of Russian companies, movable and immovable property, and property rights.
The Russian government considers any option to seize Russian funds, including income from them, as expropriation, which will entail consequences, Kremlin spokesman Dmitry Peskov said on 22 May.
Putin has instructed the Russian government to make the necessary changes to the legislation within four months.
During his visit to Kyiv in May, US Secretary of State Anthony Blinken said that the US government intends to confiscate Russian assets in US banks to help Ukraine defend itself against Russia's armed aggression.
According to a US Senate representative, $5 billion worth of Russian assets have been frozen in US banks.
Globally, these assets amount to about $300 billion. Most of them – about 200 billion euros – are blocked in the EU after Russia's invasion of Ukraine.
As reported, the European Commission may provide Ukraine with income from Russian assets as early as July. Revenues from frozen Russian assets intended for Ukraine will be transferred to the EU budget twice a year.
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