Vladimir Putin signs decree allowing confiscation of US property

Moscow: Russian President Vladimir Putin signed a decree on the seizure of US properties in response to the US’s potential confiscation of Russian assets.

According to the decree, the Russian Central Bank and Russian entities will have the right to seek legal redress in court in case of the unlawful seizure of properties by the US, Xinhua news agency reported.

A special commission of the Russian government will identify US assets or properties, including movable and immovable US properties in Russia, securities, shares in Russian enterprises, and property rights, which can be used to compensate for losses incurred.

The government has been given four months to introduce amendments to Russian legislation to facilitate the implementation of the decree.