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Putin signs decree allowing for use of US assets to compensate for Russian property seized by Washington

Russian President Vladimir Putin speaks during his address to the nation at the Kremlin in Moscow on Feb. 21, 2022. (ALEXEY NIKOLSKY/Sputnik/AFP via Getty Images/TNS)

This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission.

In an apparent reciprocal move, Russian President Vladimir Putin signed a decree on May 23 allowing the seizure of assets, securities, and property belonging to the United States or to U.S. citizens in Russia to compensate for damages caused by the confiscation of assets and property belonging to Russian tycoons and the Russian central bank in the United States.

Last month, U.S. President Joe Biden signed into law the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows Washington to seize about $5 billion in Russian state assets located in the United States.

The legislation was included in the U.S. aid package for Ukraine, Israel, and Taiwan.