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Putin's big decision: Russian soldiers are entering one city after another in Ukraine. Due to which Western countries are trying to stop Russia without directly entering the war. The US has imposed many sanctions on Russia and has seized its Western assets and foreign reserves. The US is also using this seized money to help Ukraine. However, now Russia has prepared to answer the US in its own language. Russian President Vladimir Putin has ordered the seizure of US assets. With this, the concern of the countries helping Ukraine, including the US, has also increased.
Tension of G7 countries increased!
Recently, the G7 member countries decided that Russia's confiscated assets worth about $300 billion will be used to help Ukraine. The European Union also announced earlier this week that it would send $2.7 to $3.3 billion per year in aid to Ukraine from the interest income from the confiscated assets.
Putin took revenge!
Western countries are constantly taking such action against Russia. In response to which Putin has signed a proposal. This proposal will allow Russian ownership of American properties located within Russia's borders.
Why is Russia confiscating property?
According to Russian media, the seizure of Russia's real and movable property in the United States and the seizure of Russian companies' shares in American companies will be compensated by seizing these American assets. Russian media claimed earlier this year that the Kremlin had identified assets worth about $290 billion belonging to the United States and its partner countries. This step has been taken in response to US steps to impose sanctions against Russia and seize Russian assets.
Tensions escalate between the US and its allies…
According to reports, Russia has already seized the physical assets of various Western companies in Russia and millions of dollars from European banks. Since the war in Ukraine began, thousands of Western companies operating in Russia have left the country. The US has presented a plan to help Ukraine to the G7 countries Canada, France, Germany, Italy, Japan, Britain and the European Union. Under which Russia's assets will be used to provide $50 billion in aid to Ukraine. The US proposal was passed in Congress and President Biden signed the law last week. After which the US can seize Russian assets and use them to help Ukraine. A task force has identified at least $5 billion of assets of the Russian central bank in the US banking system. According to the report, Germany has also indicated that it will adopt the US plan and seize Russian assets present in Germany.