We are talking about real estate outside the Russian Federation since the times of the USSR and the Russian Empire.
Russian President Vladimir Putin signed a decree on the allocation funds for the search, registration and legal protection of real estate outside the borders of the Russian Federation, but belonging to it for the period since the times of the USSR and the Russian Empire.
This is stated in The Moscow Times.
The head of the Kremlin ordered the search to the Department of Presidential Affairs and the Russian Foreign Ministry.
The funds, according to the decree, are intended to cover expenses associated with “the search for real estate of the Russian Federation, the former Russian Empire, the former USSR, the proper registration of rights and legal protection of this property.”
Frozen assets in the EU: what is known
In January 2024, EU countries began to implement the European Commission's proposal to use the proceeds from $300 billion of frozen Russian assets in the interests of Ukraine.
In response to these actions, those in power in the Russian Federation began to threaten possible legal proceedings and promised a mirror response in the event of confiscation of Russian assets.
The Kremlin considers any attempts at confiscation as “outright theft,” said Russian Presidential Press Secretary Dmitry Peskov.
Previously, the International Monetary Fund (IMF) supported the right of countries to confiscate Russian assets on their territory.
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