Putin allowed use of US property in Russian Federation in response to seizure of Russian assets

Russian President Vladimir Putin allowed the use of American property in Russia to compensate for damage from the seizure of Russian assets in the United States. This is stated in the Decree of the President of Russia “On a 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”.

The decree provides that the copyright holder from the Russian Federation may submit to Russian laws in order to establish illegal seizure of property by the United States. If the Russian court establishes the unlawful seizure of property by state and judicial authorities of the United States, he must send the collected information to the Government Commission for the monitoring of foreign investment in the Russian Federation. The Government Commission for Foreign Investment Control will be able to send to the court a list of that American property that “taking into account the principle of proportionality can be used” to compensate for damage from the seizure of assets of the Russian Federation, including the Central Bank of the Russian Federation.

“by the decision on the establishment of the fact of unreasonable deprivation of the Russian copyright holder of the rights to property and on compensation for damage, it is provided for the termination of rights to property of the United States or the United States, included in the list, and the subsequent transfer of these rights to the Russian copyright holder in order to compensate for the damage,” the document says in the document .

The decree notes that for compensation for damage, the movable and immovable property of the United States or individuals of the United States can be used; securities belonging to the United States or their persons, shares in the authorized capital of Russian legal entities; Property rights belonging to the United States or their persons.

“to the Government of the Russian Federation within a 4 -month period to ensure the introduction of changes to the legislation of the Russian Federation aimed at the implementation of this Decree,” the document says.

The decree comes into force from the date of its official publication.

Earlier, the US Senate approved the bill, which provides for the transfer of frozen assets of Russia to Ukraine.