Russia mulls seizing foreign assets over sanctions threat
Newscast Media MOSCOW—The upper house of Russia’s parliament is mulling
measures allowing property and assets of European and US companies to be
confiscated in the event of sanctions being adopted against Russia over its
threatened military intervention in Ukraine.
The bill’s author, Federation Council constitutional legislation committee head Andrei
Klishas, said Wednesday that lawyers are currently studying whether the proposed
confiscations would be constitutional.
“But we have no doubts that it clearly corresponds to European standards,” Klishas
told RIA Novosti. “The recent events in Cyprus spring to mind, where the confiscation
of assets was the main demand made by the European Union in return for economic
An adviser to President Vladimir Putin said Tuesday that authorities would issue
general advice to dump US government bonds if Russian companies and individuals
were targeted by sanctions over events in Ukraine.
According to US Treasury data from the end of 2013, Russian investments in US
government bonds total around $139 billion out of a total of $5.8 trillion of US debt
held in foreign hands.
Putin has denied any Russian troops have already been deployed in the southern
Ukrainian republic of Crimea, although numerous eyewitnesses have reported seeing
large numbers of well-armed troops without insignia moving around the peninsula in
military vehicles bearing Russian license plates.
Source: Ria Novosti