Russia signs decree allowing seizure of US assets in Russia
JURIST
MAY 23, 2024
Russian President Vladimir Putin signed Decree No. 422 on Thursday allowing Russia to seize US assets to compensate for damages resulting from Russian assets seized in the US. This decree comes as a response to the US enactment of the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act which came into force on April 24, 2024, and vests the US president with the power to “seize, confiscate, transfer [] or vest” any Russian state sovereign asset in the US.
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