Forbes: The Cabinet of Ministers approved the procedure to confiscate the property of foreigners in Russia

The draft law was prepared for the implementation of the May Decree of Vladimir Putin, which, if the United States withdraws the Russian State and the assets of the Bank of Russia, allows the property of US residents in Russia as compensation.

At the same time, the mechanism provided by the Ministry of Justice of the Ministry of Justice can be applied by decision of the President not only “in relation to the United States, as provided by the decree, but also in relation to other foreigners the states, if Russian sovereign assets are seized abroad, ”is deduced from an explanatory note.

He also says that the confiscation of the property of the “hostile” countries or their residents is assumed “about general private laws.” Russia, the Federal Executive Agency, the Central Bank or the Office of the Attorney General may file a lawsuit against another State in the Arbitration Court of the Moscow region.

As compensation for the damage of the shares of the “hostile” countries, the court can attract a sanction to foreign assets, whose list will prepare foreign investment control to the right of foreign investment, says the explanatory note.

The fact that the Ministry of Justice has developed a procedure to confiscate the property of the “hostile” states as compensation for the damage caused by Russia and the Central Bank was reported in mid -January of Vdomosti.

These amendments are an answer to the Law of the United States, adopted in April and allowing the confiscation of the Russian sovereign assets, the newspaper of the Compliance Newspaper and the BGP Maria Udodova sanctions law told the newspaper. At the same time, he pointed out that so far this law is “sleeping”, so it is premature to talk about the real elimination of foreign assets.