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Putin signs the decree to confiscate American assets

2024-05-23 18:55:52, Kosova & Bota CNA
Putin signs the decree to confiscate American assets
Russian President Vladimir Putin

In a reciprocal move, Russian President Vladimir Putin on May 23 signed a decree allowing his country to use assets, securities and property belonging to the United States or American citizens located in Russia.

These assets, according to the decree, will be used to compensate for the damages caused by the confiscation of assets and properties of Russian tycoons and the Russian Central Bank in the US.

Last month US President Joe Biden signed a law allowing Washington to confiscate around $5 billion in Russian assets in the US. This legislation is included in the aid package that the US has given to Ukraine, Israel and Taiwan.

Even the European Union has adopted a decision that enables the European bloc to use the frozen assets of the Russian Central Bank, located in the EU.

Brussels has said profits from these assets will be used to help Ukraine's military, which is facing an invasion launched by Russia in 2022.

About 210 billion euros in assets belonging to the Central Bank of Russia have been frozen by the EU. This amount is estimated to generate interest of about 3 billion euros per year./ REL





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