Putin lays groundwork for confiscation of US assets
RT
23 May, 2024

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A roadmap has been prepared in anticipation of possible misappropriation of Russian state funds by Washington

Moscow could move to seize property owned by US-linked entities and citizens in Russia, should Washington attempt to confiscate Russian assets being held abroad, according to a decree signed by President Vladimir Putin on Thursday.

The US and its allies are presently devising ways to use funds generated by some $300 billion in Russian sovereign assets frozen in the West to help Ukraine’s war effort against Moscow.

The document released by the Kremlin outlines a future mechanism that would allow any damages caused by the US to be offset by property owned by the US itself or associated entities. The Russian government and central bank would be empowered to seek redress for such losses through a Russian court.

Those who could face potential action against their assets include US citizens or those who reside in the country, or those do most of their business or generate most of their profits in Russia. The property of people “under the control” of such individuals will also be liable, regardless of their nationality and residency.