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24 May 2024
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Putin signs decree to allow confiscation of US property

Ratner discussed the relationship between Russia and North Korea as well as “serious concern over China’s support for Russia’s defence industrial base that enables Russia’s war in Ukraine,” the Pentagon said in a readout…reports Asian Lite News

Russian President Vladimir Putin signed a decree on the seizure of US properties in response to the US’s potential confiscation of Russian assets.

According to the decree, the Russian Central Bank and Russian entities will have the right to seek legal redress in court in case of the unlawful seizure of properties by the US, Xinhua news agency reported.

A special commission of the Russian government will identify US assets or properties, including movable and immovable US properties in Russia, securities, shares in Russian enterprises, and property rights, which can be used to compensate for losses incurred.

The government has been given four months to introduce amendments to Russian legislation to facilitate the implementation of the decree.

Earlier this week, a top US defence official has warned his Chinese counterpart about China’s increasing cooperation with Russia, even as Chinese President Xi Jinping and Russian President Vladamir Putin met and pledged to strengthen ties between the two countries.

Ely Ratner, US Assistant Secretary of Defence for Indo-Pacific Security Affairs, spoke by video teleconference with China’s) Major General Li Bin, Director of the Central Military Commission Office for International Military Cooperation, on Friday.

Ratner discussed the relationship between Russia and North Korea as well as “serious concern over China’s support for Russia’s defence industrial base that enables Russia’s war in Ukraine,” the Pentagon said in a readout.

Putin was on an official two-day visit to China to mark the 75th anniversary of the establishment of ties between Moscow and Beijing, during which he and his Chinese counterpart Xi Jinping pledged a “new era” of partnership.

The US Defence Assistant Secretary also reiterated that the United States remains committed to the ‘One China’ policy, which is guided by the Taiwan Relations Act, the Three US-China Joint Communiques, and the Six Assurances, and he reaffirmed the importance of maintaining peace and stability across the Strait.

The US official also spoke with his Chinese counterpart about the escalating tension between China and the Philippines near the South China Sea shoal.

China, meanwhile has criticised the US of “military collusion” with Taiwan.

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