Published: 10:25, May 24, 2024
Putin signs decree to allow confiscation of US property
By Xinhua
Russian President Vladimir Putin speaks to Governor of the Kurgan Region Vadim Shumkov during their meeting via videoconference at the Kremlin in Moscow, Russia, on May 22, 2024. (PHOTO / AP)

MOSCOW - Russian President Vladimir Putin signed a decree Thursday on the seizure of United States properties in response to the potential confiscation of Russian assets by the US.

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.

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.

READ MORE: Russia eyes downgrading diplomatic ties with US if assets seized

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