Putin Decree Allows Seizure Of US Property & Assets If Russian Funds Taken By West

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by Tyler Durden
Saturday, May 25, 2024 - 11:35 AM

On Thursday Russian President Vladimir Putin signed a decree which paves the way for the government to conduct legal seizure of any US assets in Russia, including property and real estate.

This in retaliation and in order to compensate for any Russian assets that are taken by the US, at a moment Washington is forging ahead with a joint plan with the EU to generate profits for Ukraine and its defense, utilizing frozen Russian assets.

However, this new initiative by the Kremlin is reportedly only being prepared in the instance that the US and Europe outright steals (or fully seizes) the currently frozen funds.

In preparation for initiating the retaliatory measure, the government has moved many of the assets of foreign investors to special accounts from which funds cannot be moved outside of Russia without direct Kremlin approval.

According to the announcement in state media:

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 seizure.

Under the decree, the Russian copyright holder (in this case - Russian government or the Central Bank) has the right to "apply to the court… with a claim to establish the fact of unjustified deprivation of his rights to property due to a decision by a US state or judicial authority and to receive compensation for said damage."

More details in Russian media say "Putin’s decree gives the government four months to prepare the legal framework for the mechanism and submit the relevant proposals to parliament for consideration."

Additionally, "The court will be able to grant compensation in the form of property physically present in Russia, shares in Russia-registered businesses and property rights. A governmental commission will be responsible for compiling the list of those who could be targeted for compensation." Already, most major US companies fled Russia during the opening months following the February 2022 invasion.

This week President of the European Commission Ursula von der Leyen issued a revealing statement on where the West's economic policy stands with Russia. She spoke primarily of China, but also asserted... "I don't think that we are in a trade war. I have the motto: 'de-risk not decouple', and I think here it's very clear we are in the category of de-risking from China. We have decoupled from Russia."