Putin signed a decree authorizing the seizure of American assets in Russia

Vladimir Putin / Photo EPA-EFE/NATALIA KOLESNIKOVA / POOL

Russia will have jurisdiction over American property in the country to compensate for damages from the seizure of Russian property in the United States, according to the decree of Russian President Vladimir Putin on the procedure for compensating Russia for damage caused by hostile actions of the United States. "TASS". 

As part of the move, movable and immovable property of the United States, American companies and citizens on the territory of Russia, as well as securities owned by them, shares in the authorized capital of Russian companies and other property rights of the United States and Americans in the country will be subject to of seizure.

According to the decree, the Russian copyright holder (in this case the Russian government or the Central Bank) has the right to submit a request to the court to determine the fact of unjustified deprivation of his property rights due to a decision of an American state or judicial authority and to receive compensation about the mentioned damage, reports the local media.

G7 negotiators have been debating for weeks how best to use about $300 billion worth of Russian assets, in various major world currencies and government bonds, frozen shortly after Moscow invaded Ukraine in February 2022.

The order issued today lists the securities, real estate, real estate and property rights in property owned by the United States that are subject to seizure.
The assets of a number of foreign investors in Russia, including individuals and large US investment funds, are held in special "Type C" accounts introduced by Russia shortly after it sent troops to Ukraine and was hit by a series of Western sanctions in February. 2022. Money from those accounts cannot be transferred out of Russia without the permission of the Russian authorities.

The Russian government can determine which governing body will be authorized to apply to the court. The President also tasked the government to ensure – within 4 months – the introduction of changes in the legislation in order to implement his decree.

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