On Thursday, President Vladimir Putin signed a decree indicating that Russia would identify U.S. assets, including securities, that could potentially serve as compensation for any losses resulting from the seizure of frozen Russian assets in the United States.
Negotiators from the G7 have been engaged in discussions for several weeks regarding the utilization of approximately $300 billion worth of Russian financial assets, such as major currencies and government bonds, which were frozen shortly after Russia’s invasion of Ukraine in February 2022.
The capacity of Russia to retaliate in a like-for-like manner if Western nations seize its frozen assets has been diminished due to declining foreign investment. However, officials and economists informed Reuters earlier this month that Russia might target private investors’ funds instead.
The decree issued on Thursday stipulates that a Russian entity has the right to petition a Russian court to determine whether its property has been unjustly seized and to seek compensation. Subsequently, the court may order compensation to be provided in the form of U.S. assets or property located in Russia, selected from a list compiled by Russia’s government commission on foreign asset sales.
The decree enumerates securities, ownership stakes in Russian companies, real estate, movable property, and property rights among the U.S.-owned assets potentially subject to seizure.
Former President Dmitry Medvedev acknowledged last month that Russia possesses an insignificant amount of American state property and that any response from Russia would be asymmetrical, focusing on the assets of private individuals.
Many foreign investors, including both individuals and major U.S. investment funds, have their assets held in special ‘type-C
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