**Russia to Seize Frozen Assets**
The Russian government is planning to take control of frozen assets belonging to companies and investors from countries that have sanctioned Russia over its war with Ukraine. This move was reported by Reuters on February 7.
**Why is this happening?**
The plan follows a decree signed by President Vladimir Putin in May 2024. The decree allows the Russian government to identify American property and securities as compensation for losses caused by Western asset freezes. This means that lawsuits will be filed by the Russian authorities, including the central bank and the Prosecutor General’s Office.
**Who is at risk?**
Foreign investors‘ funds could be at risk if Moscow doesn’t give permission to access them. This includes individual investors and large US investment funds with billions of dollars trapped in Russia. These funds were blocked by Western countries as part of their sanctions against Russia.
**What does this mean for Ukraine?**
The move comes as the US and European allies are trying to use frozen Russian assets to finance aid for Ukraine. The US government is considering using these assets to buy American weapons for Kyiv. Western countries have frozen $300 billion in Russian assets, but can only access an estimated $3.2 billion in annual profits.
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