Putin signs decree to use US property in Russia in response to hostile actions

President Vladimir Putin allowed the use of US property in Russia to compensate for damage from the seizure of Russian property in the United States.

The decree that Putin signed says that the Russian rights holder, represented by the state or the Central Bank, may go to court in light of the unjustified deprivation of their rights to property by decision of the US authorities. If the claim is satisfied, the rights holder will receive American property as compensation, based on the principle of proportionality,” the decree says.

It goes about such property as:

• US movable and immovable property located in Russia;
• US-owned securities, shares in the authorised capital of Russian legal entities;
• Property rights owned by the United States.

The government is to make appropriate changes to legislation within four months.