RF will be able to confiscate assets of foreigners
Russia will be able to seize the assets of unfriendly countries that have unreasonably confiscated the property of the Russian Federation. Such changes are planned to be fixed in the law - its text has already been agreed upon with the Central Bank, the Ministry of Finance, the Ministry of Economic Development, and the Ministry of Foreign Affairs, according to documents to the government commission on legislative activity (Izvestiya has it). According to the source of the editorial board, the committee will consider the initiative next week.
The initiative is designed to implement the presidential decree of May 23, 2024, which provides for the procedure of compensation for damage caused to the country due to unfriendly actions of the United States, as follows from the documents to the Pravcomission. According to the documents, foreign assets will be able to be transferred to state property - their list will be compiled by the Pravcomission on Foreign Investments. The value of the seized property will also be determined by a special procedure, but the decision itself will be executed in the same way as the usual confiscation procedures - through the arbitration court.
The confiscation of foreign assets in Russia has not been carried out before, said Artem Kasumyan, a lawyer of Delcredere Bar Association. So far, the Russian Federation has only imposed restrictions on the use of property in the country - money and securities of foreign investors from unfriendly states are blocked on "C" accounts. Foreigners cannot alienate certain assets without the consent of the Russian authorities. For example, to sell a large block of shares or a stake in a company, they must obtain the authorization of the Central Bank and the President.
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