MOSCOW: Moscow’s response to the US legislation providing for the confiscation of Russian assets will sting, Russian Security Council Depu...
MOSCOW: Moscow’s response to the US legislation providing for the confiscation of Russian assets will sting, Russian Security Council Deputy Chairman Dmitry Medvedev said.
"Only an asymmetric response is possible. However, this doesn’t mean that it will sting any less," he wrote on Telegram.
Medvedev suggested enacting legislation to allow Russia to confiscate assets belonging to the citizens of unfriendly countries. According to him, Russian legislation "should provide not only for restricting the rights of foreign nationals but actually terminating their rights in order to make it possible to force a foreclosure on the property of entities from unfriendly countries and give it to the Russian government, entities and individuals," Medvedev specified. "This will require certain changes to Russia’s civil code," he added.
The European Union, Canada, the United States and Japan froze $300 bln of Russia’s assets after Moscow launched its special military operation in Ukraine. About $5-6 bln in frozen Russian assets are sitting in American banks.
On April 24, the US Senate passed a package of bills on military aid to Ukraine, Israel and Taiwan. One of the bills authorizes Washington to confiscate Russian assets to help Ukraine.
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