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

    12 minutes ago

    WATCH: Afghanistan player delivers Oscar-winning performance with ‘fake injury’ at T20 World Cup

    12 minutes ago

    General Hospital's Bryan Craig Returns as Morgan Corinthos After 8 Years

    12 minutes ago

    Gracie Abrams on track to top albums chart after performing with Taylor Swift

    12 minutes ago

    Constituency profile: West Belfast

    12 minutes ago

    Brazil vs. Costa Rica final score: Copa America 2024 updates, result as Vinicius Jr. and Co. off to nightmare start Copa campaign

    12 minutes ago

    Gold prices in Jordan Today 25 June, Tuesday

    12 minutes ago

    Everything We Learned About 'The Lady’s Companion' On A Netflix Set Tour in Tres Cantos, Spain

    12 minutes ago

    MLB roundup: Phillies post triple play in rout of Tigers

    12 minutes ago

    We have touchdown! China makes history by returning the first rocky samples from the moon's far side - which experts say could reveal more about the solar system's early history

    17 minutes ago

    Video: Strictly Come Dancing star Karen Hauer says Dave Myers helped her 'fall back in love with the show' - as she reveals sadness over Giovanni Pernice's departure

    17 minutes ago

    UK heatwave: Drivers urged to remove three crucial items from cars over safety fears

    17 minutes ago

    Affirm Holdings shares rally; Goldman upgrades to 'buy' rating

    17 minutes ago

    Dodgers Extend Historic Streak No Team Has Done In Over 120 Years

    17 minutes ago

    Brian Dowling thanks sister Aoife as he and Arthur welcome their second child

    17 minutes ago

    In an industry of conformity, Questlove remains a hip-hop iconoclast

    17 minutes ago

    Timur Bekmambetov & Image Nation Abu Dhabi Team On UAE Screenlife Accelerator Program

    17 minutes ago

    Dolphin warming to sunny Redcliffe after lukewarm start

    17 minutes ago

    Building supplies firm SIG cuts profit outlook amid lull in construction work

    23 minutes ago

    Australian politicians urged to not transform what Assange did into ‘heroic action’

    29 minutes ago

    Cheesecake Factory fans taste test a staggering 33 DESSERTS - and rank the menu best to worst

    29 minutes ago

    The Latest | Israeli Supreme Court rules that the military must begin drafting ultra-Orthodox men

    29 minutes ago

    Tui corrects misleading ‘Brexit advice’ on website for travel to Europe

    29 minutes ago

    Going to Glastonbury? This is what happens if you don’t clean your teeth for five days

    29 minutes ago

    Glastonbury 2024 live: Latest weather forecast, what time do gates open and lineup set times

    29 minutes ago

    Alicia Vikander says she could not get used to Jude Law’s ‘repulsive’ stench on set: ‘It was that bad’

    29 minutes ago

    Glastonbury 2024 lineup, set times and clashfinder for each stage

    29 minutes ago

    China hits back at West’s overcapacity allegations in EVs, lithium batteries

    29 minutes ago

    Boeing offers to buy 737 supplier Spirit Aero for $35/shr, Bloomberg News reports

    29 minutes ago

    Fact check: Plans to enforce National Service have not yet been developed

    29 minutes ago

    Women demand apology from GOP candidate who lied about age on Tinder

    29 minutes ago

    Cat Deeley supported as she reveals husband Patrick's health struggle live on air

    29 minutes ago

    ‘He will really thrive’: Timi Max Elsnik faces England with point to prove

    29 minutes ago

    Boston Bruins Re-Sign Top Goalie Prospect

    29 minutes ago

    Seven things I learned about the Sony car while playing Gran Turismo inside one

    29 minutes ago

    Government must 'go back to the drawing board' on vaping crackdown

    29 minutes ago

    Nuclear energy ‘does not make sense’ for Australia: Albanese

    29 minutes ago

    Copa America Takeaways: Canada on a knife’s edge after Matchday 1

    29 minutes ago

    Drivers in England urged to protect their driveways with 'bizarre' legal loophole

    29 minutes ago

    #TheMoment the Oilers used La Bamba to keep Joey Moss's spirit alive

    34 minutes ago

    Julian Assange leaves jail on his way to enter plea deal with the U.S.