Putin signs order allowing the use of US assets in Russia to compensate Russia’s losses

Vladimir Putin, the president of Russia, signed a presidential decree on May 23rd, local time, mandating that the Russian government create pertinent, comprehensive regulations to reimburse Russia and the Russian Central Bank for losses brought about by the US’s unfriendly actions, as well as to permit the use of US assets in Russia to reimburse losses brought about by the US’s confiscation of Russian assets in the US.

In compliance with Russian law, the presidential decree permits Russian asset owners to bring legal action against the United States for the unlawful seizure of their assets there. Furthermore, the presidential decree mandates that Russian courts and government agencies, upon receiving pertinent compensation requests, forward particulars about US legal entities’ and individuals’ assets in Russia to the Foreign Investment Supervision Committee of the Russian government, to be utilized as the foundation for compensation.