Russia Will Take Retaliation If Their Assets Are Confiscated by the US

Russia Will Take Retaliation If Their Assets Are Confiscated by the US

Russia Will Take Retaliation If Their Assets Are Confiscated by the US. On Tuesday 23 April 2024, Russian President Vladimir Putin warned Europe that Russia had drafted the law as an act of retaliation. The law will be enforced if Russian assets worth nearly 300 billion US dollars are confiscated by the west, and used to help Ukraine.

Reuters reported after Putin sent troops to Ukraine in 2022. The United States and its allies banned transactions with Russia’s Central Bank and finance ministry.

The US and its allies also blocked Russian state assets in the west worth around 300 billion US dollars. Top officials in the United States want to seize these assets to help support Ukraine. However, some European bankers and officials worry that taking these assets would create a dangerous situation.

The U.S. House of Representatives on Saturday passed legislation including a bill with provisions that would allow the confiscation of Russian state assets. “We have also prepared an answer,” said Valentina Matvienko, Chair of the upper house of the Russian parliament.

As quoted by the Russian state news agency, he added that Russia also has a draft law ready to be launched soon regarding retaliatory measures, and that Europe would suffer greater losses if Russian assets were confiscated. said Matvienko, who is a member of the Russian Security Council.

Matvienko did not specify what response he would make to the confiscation of Russian assets that is still under discussion in the west. One option being discussed by western countries is to confiscate income from the underlying assets without taking the actual assets.

Russia said it would oppose the seizure of its assets. Volodin said that Russia had reasons to seize western assets after the steps taken by the US House of Representatives. | Volodin said that of the Russian assets frozen abroad worth 280 billion US dollars, only 5 billion US dollars to 6 billion US dollars were in the United States. Meanwhile around 210 billion Euros are in the European Union.