Putin authorizes seizure of US and American property in Russia in response to confiscated Russian assets
Russian dictator Vladimir Putin has issued a decree that de facto allows for the seizure of US assets, US citizens and residents in Russia in exchange for confiscated Russian assets.
This is reported by the Russian service of Radio Liberty, Censor.NET informs.
The full title of Putin's decree reads as follows: "On the Special Procedure for Compensation for Damage Caused to the Russian Federation and the Central Bank of the Russian Federation in Connection with the Unfriendly Actions of the United States of America". It launches a mechanism for the confiscation of US assets, US citizens and residents in exchange for confiscated Russian assets.
The decree states that Russians and Russian companies can apply to Russian courts regarding the "unjustified" seizure of property by a decision of US courts or government agencies and demand "compensation for damages." After that, the Russian court must recognize that the Russian assets were confiscated "without justification."
It is then up to the Russian government to determine the compensation procedure. The government commission must propose US-related assets in Russia for "compensation". These may include real estate, securities, shares in Russian companies, and property rights.
In April of this year, the U.S. Congress supported the confiscation of frozen Russian assets in the United States for Ukraine. They also voted to extend anti-Russian sanctions.
