Putin Allows Confiscation of US Assets in Russia | US-Russian Tensions Escalate

This move comes in response to the seizure of Russian assets by Washington. In February 2022, following Moscow's deployment of troops into Ukraine, the US and European Union collectively froze approximately $300 billion of Russian financial assets, predominantly comprising central bank reserves.

Putin's decree stipulates that Russian entities, including companies and the central bank, as well as individuals, have the right to petition Russian courts to contest the confiscation of their assets in the US, deeming such actions unjustified. If the court concurs with the petitioners, a governmental commission will be tasked with offering compensation in the form of assets, potentially including properties owned by US entities or individuals within Russia, as well as securities and shares in Russian corporations.