Putin signs decree allowing seizure of Americans' assets if US confiscates Russian holdings

Putin signs decree allowing seizure of Americans' assets if US confiscates Russian holdings

Putin signs decree allowing seizure of Americans' assets if US confiscates Russian holdings

President Vladimir Putin has signed a decree allowing Russia to confiscate U.S. assets to compensate for any Russian assets confiscated in the United States

ByThe Associated Press

May 23, 2024, 10:16 AM

    President Vladimir Putin has signed a decree allowing Russia to confiscate assets of U.S. companies and individuals to compensate for any Russian assets confiscated in the United States.

    The decree was published on the Russian government's legal portal on Thursday as top finance officials from the Group of Seven industrialized nations began a meeting at which the question of what to do with Russian assets frozen in the West is at the top of the agenda.

    Ukraine and many of its supporters have called for the confiscation of $260 billion in Russian assets frozen outside the country after Russia's Feb. 24, 2022, invasion. But European officials have resisted, citing legal and financial stability concerns.

    However, U.S. President Joe Biden in April signed into law the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows the administration to seize the roughly $5 billion in Russian state assets located in the U.S. The law was included in a U.S. aid package for Ukraine and other nations which includes roughly $61 billion for Ukraine’s defense.

    But it’s not likely the U.S. will seize the assets without agreement from other members of the Group of Seven nations and the European Union.

    The decree signed by Putin says that Russian companies and the central bank and individuals could apply to Russian courts to declare the seizure of property in the U.S. as unjustified. If the court agrees, a government commission would offer assets in compensation that could include property owned by U.S. citizens or companies in Russia, securities and shares in Russian companies.

    OTHER NEWS

    23 minutes ago

    Joe Wicks and Trinny Woodall to join BBC Dragons' Den panel in shake-up

    23 minutes ago

    OpenAI to cut access to tools for developers in China and other regions, Chinese state media says

    23 minutes ago

    Conor Gallagher the fretful fall guy in England’s midfield tragedy

    23 minutes ago

    William grins at King's Pokemon joke

    23 minutes ago

    US election body gives Trump another 45 days for personal financial disclosures

    23 minutes ago

    Forza Horizon 4 is being removed from sale because of expiring licenses, but at least it'll keep running after it's gone

    27 minutes ago

    Pharmacy Guild ‘blindsided’ by Labor-Greens deal on vapes

    27 minutes ago

    Why electric vehicle prices are falling

    27 minutes ago

    Seven Potential Klay Thompson Destinations in NBA Free Agency

    27 minutes ago

    Nine Australians locked in to compete in tennis at the Paris Olympics

    29 minutes ago

    WikiLeaks' founder Assange pleads guilty in deal with US that secures his freedom, ends legal fight

    29 minutes ago

    Video: Love Island villa is shaken by the arrival of TWO new bombshells as they each pick one person to date

    29 minutes ago

    Video: Love Island villa is shaken by the arrival of TWO new bombshells as they each pick one person to date

    32 minutes ago

    David Warner posts a beery photo after his last game for Australia - but it's NOTHING like what you'd expect - as wife Candice has a very surprising reaction

    33 minutes ago

    Kingdom Hearts, As Told By Steam Reviews

    33 minutes ago

    England vs Slovenia player ratings: Jude Bellingham and Conor Gallagher disappoint at Euro 2024

    33 minutes ago

    Superstar Calvin Harris is Coming to Bahrain on This Date!

    33 minutes ago

    Austria beat Netherlands in five-goal Euro 2024 thriller to top Group D

    33 minutes ago

    Rocky Mountain tourist learns the hard way not to get between a mother bear and her cubs

    33 minutes ago

    Creative Overwatch 2 Fan Comes Up With Baldur's Gate 3 Skin Concepts

    34 minutes ago

    Life By You is Canceled, But Another Sims Competitor is Still Coming

    34 minutes ago

    Afghanistan in T20 World Cup semifinal: A real fairy tale?

    34 minutes ago

    Eagles' Brandon Graham happy Saquon Barkley joined team, says losing star RB 'sucked for the Giants fans'

    34 minutes ago

    Watch: San Diego Zoo celebrates birth of endangered Baird's tapir

    34 minutes ago

    Why the Netherlands wear orange whilst playing football

    34 minutes ago

    Elden Ring Fan Creates Incredible Acrylic Painting of The Lands Between

    34 minutes ago

    England 0-0 Slovenia: player ratings from the Euro 2024 Group C game

    34 minutes ago

    Cups thrown at England manager Gareth Southgate after 0-0 draw with Slovenia

    34 minutes ago

    Airplane suddenly drops 25,000 feet midflight, injuring 17 passengers

    35 minutes ago

    Asia-Pacific markets mostly lower ahead of Australia's May inflation figures

    35 minutes ago

    After losing home, family hopes for historic café’s survival as Rapidan Dam collapse looms

    37 minutes ago

    Attractions work on affordability to draw staycationing Calgarians this summer

    39 minutes ago

    Video: Lemurs in the wild serenade each other with a distinct rhythm, study finds - suggesting the ability to sing evolved early in primates

    40 minutes ago

    Joe and Jill Biden refinanced their Delaware home 20 times — raking in $4.2M from the $350K property

    40 minutes ago

    Boxing-Usyk vacates IBF heavyweight title

    40 minutes ago

    FTX customers to vote on multi-billion dollar repayment plan

    40 minutes ago

    New footage of Adelaide Westfield shopping centre incident emerges

    40 minutes ago

    Lytton, B.C., rebuild continues three years after wildfire destroyed most of town

    40 minutes ago

    Report: Dallas Cowboys’ Stephen Jones Is ‘Pulling’ Jerry Jones Back From Going All-In On Free Agency

    40 minutes ago

    ‘We’re confident’: Not over yet for Cats great