Russia says it could seize assets from ‘hostile’ countries

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Russia suggested on Sunday that it could seize Russian assets from countries it deems hostile in retaliation for a US proposal to sell the assets of Russian oligarchs and pay the proceeds to Ukraine.

“With regard to companies based on Russian territory whose owners are citizens of hostile countries and where the decision has been taken” to seize Russian assets, “it is right to take reciprocal measures and confiscate the assets” , said the spokesman of the chamber of parliament, Vyacheslav Volodin.

“And the proceeds from the sale of these assets will be used for the development of our country,” he said on his Telegram channel.

Volodin accused “a number of hostile countries – Lithuania, Latvia, Poland and even the United States” – of flouting international law and “resorting to pure theft”.

Volodin said that “today Russian businessmen buy foreign companies operating in Russia and buy the shares of partners who want to leave our market.”

He urged “hostile” countries to “act in a civilized manner and respect international law”.

Volodin’s remarks came after US President Joe Biden announced a proposal to increase economic pressure on Russia, with enhanced seizure and confiscation procedures allowing assets seized by oligarchs to be ‘sold’ for “repair the damage done by Russia and help build Ukraine”.

“A dangerous precedent has been set, which could turn against the United States itself,” Volodin said.

“This decision will not affect the economy of our country. The yachts, villas and other assets of wealthy (Russian) citizens do not contribute anything to the development” of Russia, he said.

This story was published from a news feed with no text edits.

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