Putin signs decree allowing confiscation of US assets in Russia

Putin signs decree allowing… Confiscation assets American In Russia
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November 17, 1445
May 25, 2024 AD
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Russian President Vladimir Putin signed a decree allowing Confiscation Assets belonging to the United States, its citizens and companies in Russia to compensate those affected by Western sanctions against Moscow.
After Moscow ordered its troops into Ukraine in February 2022, the West froze about $300 billion worth of Russian financial assets, mostly central bank reserves.

Many Western companies have left Russia since its offensive in Ukraine.

Those who stayed or have not yet completed the sale of their Russian operations may now face the risk of having their assets seized.

On the European side, the European Union agreed last Tuesday to use profits from its frozen Russian assets for Ukraine’s defense and reconstruction.

Last month, Congress passed a law allowing President Joe Biden to direct frozen Russian assets in the United States to a special fund to support Ukraine.

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