Russia to seize American assets in exchange for US seizure of frozen assets

Russian President Vladimir Putin has authorized the utilization of resources within his country, belonging to entities associated with the United States or U.S.-affiliated corporations and individuals, to compensate for any harm inflicted upon Russia or the Russian Central Bank.

The decree endorsed by Putin, outlining measures applicable against U.S. assets situated in Russia, has been disseminated through the country’s legal information system.

Subsequently, parties who have incurred damages from the U.S. will possess the prerogative to instigate legal proceedings in Russian courts, and assets of the U.S., U.S.-affiliated corporations, and individuals within the country may be utilized to indemnify for the ascertainable damages.

The decree empowers the government to pinpoint U.S. assets eligible for employment within Russia in exchange for Russian assets frozen within the U.S., encompassing those under the ownership of the Central Bank of Russia.

On April 24, the U.S. Senate ratified the transfer of immobilized Russian assets to Ukraine.

Western countries had immobilized approximately $300 billion worth of Russian assets.