Putin Signs Decree Authorising Seizure Of US Assets In Russia

Russian President Vladimir Putin signed a decree authorising the seizure of US assets in Russia to compensate for damages related to any potential US siezure of Russian assets. The Russian decree is likely to be triggered if the US pursues the siezure of Russian sovereign assets, authorised the US Congress via the REPO Act.

• Tass notes: "Russia will now have jurisdiction over American property in Russia to compensate for damages from the seizure of Russian assets in the United States, according to a decree of Russian President Vladimir Putin on the procedure for compensating damage to Russia from unfriendly actions of the United States."
• Tass: "As part of the move, movable and immovable property of the United States, American companies and citizens on the territory of Russia, as well as securities owned by them, shares in the authorized capital of Russian companies and other property rights of the United States and Americans in the country will be subject to seizure."
• Max Seddon at FT notes: "There aren't many US state assets Russia can get hold of, so it's likely investors are the ones at risk."
• How agressively to target Russian assets is one of the focuses of a meeting G7 finance ministers and central bank governors which got underway in Stresa, Italy today.
• US Treasury Secretary Janet Yellen said: “Securing Ukraine’s position in the medium-to-long term requires unlocking the value of immobilized Russian sovereign assets. We support the EU’s decision to utilize the windfall profits from these assets, but we must also continue our collective work on more ambitious options.”