Putin Allows US Assets in Russia to Be Seized for Retaliation
President Vladimir Putin ordered the government to prepare retaliation for any seizure of assets by the US
Under the measure, US assets in Russia could be confiscated to compensate for losses suffered by the Russian government
Russian companies whose assets are confiscated can file a court complaint to potentially receive compensation from assets that US and US-affiliated
Putin’s action comes as finance ministers from the Group of Seven countries are discussing a US plan to squeeze value out of frozen Russian assets at a meeting in Stresa
The US proposal would leverage future revenue generated from about $280 billion in Russian central bank funds
The proposal could generate as much as $50 billion in critical financing for Kyiv and help shield it from political shifts on both sides in the US and in Europe.
Putin’s order directs a Russian government commission on foreign investments to compile a list of assets
securities and property rights belonging to the US government or its citizens that can be used to help determine future compensation.