The above information is provided by the company Reuters and Kyiv Independent quoted from the April 27 statement of Deputy Chairman of the Russian Security Council Dmitry Medvedev, a close ally of President Vladimir Putin.
The US Congress recently passed a law allowing President Joe Biden’s administration to confiscate Russian-owned assets in US banks to transfer to Ukraine to rebuild the country.
Western countries are freezing about $300 billion in Russian assets, including about $5 billion in the US. Russian assets were frozen after President Putin launched a special military campaign in neighboring Ukraine at the end of February 2022.
Vice Chairman of the Russian Security Council Dmitry Medvedev. Photo: Reuters
“We cannot respond adequately to the blatant theft of US assets” – Mr. Medvedev wrote on the Telegram channel and explained – “Very clearly, we do not hold many assets of the US government , including money, stocks and other assets. So the answer can only be disproportionate.”
Instead, Mr. Medvedev threatened that Moscow could confiscate assets, including real estate and cash, owned by American individuals and investors but within the scope of Russian judgment, in response. Washington government.
Former President Medvedev stated that the legal basis for this is in the Russian civil code, which allows Moscow to retaliate when the assets of Russian organizations and individuals are subject to certain restrictions imposed by foreign countries.
The Group of 7 leading industrialized countries in the world (G7) is also considering measures to handle frozen Russian assets.
Although the US Congress has passed a bill setting out the legal basis for confiscating Russian assets, it remains unclear whether President Biden plans to take such a step.
Washington has long pushed for the transfer of frozen Russian assets to Ukraine. In contrast, European countries are more hesitant because of concerns about economic and legal pitfalls.
Some European countries fear Russia’s move to exploit frozen assets could create dangerous precedents and undermine trust in Western financial institutions.
The European Union (EU) is instead studying a plan to use profits from Russia’s frozen assets to provide military aid to Kiev.
Moscow said it could downgrade diplomatic relations with the US if Washington confiscates Russian assets.
The relationship between the United States and Russia has deteriorated significantly since Moscow launched a special military campaign in neighboring Ukraine.
Tags: Russia respond confiscation assets
