Russian President Vladimir Putin has authorized the use of U.S. assets in Russia to compensate for damage from the seizure of Russian assets in the United States. The corresponding decree was signed the Russian leader on May 23, reports TASS.
It is noted that it refers to the movable and immovable American property located in the territory of the Russian Federation, US companies and citizens, also securities belonging to them, shares in authorized capitals of Russian companies and other property rights of the US and Americans in Russia.
The Government Commission on Foreign Investment Control will now be able to sent to the court a list of U.S. property that, "taking into account the principle of proportionality, may be used" to compensate for damages from the seizure of Russian assets in the United States.
It is stated that a Russian rights holder may apply to the court with a request to establish the fact of unjustified deprivation of its rights to property in connection with a decision of a US state or judicial body and to compensate for damages.
If the fact of unreasonable deprivation of the Russian right holder's rights to property is confirmed, the court may transfer to him as compensation the rights to US property in Russia from a list compiled by the government commission for control of foreign investment.
