Putin replied to US in its own language, G7 assets will be confiscated

US-Russia Relations: Russian troops are advancing city by city in Ukraine. Due to which Western countries are trying to stop Russia without going into direct war. America has imposed several sanctions on Russia and has frozen its western assets and foreign reserves. This freeze money is also being given to help Ukraine. Now Russia has also started its revenge on similar lines. Russian President Vladimir Putin has passed an order to seize American assets.

Recently the G7 member countries have decided that about $300 billion of Russia's assets will be used to help Ukraine. The European Union also announced earlier this week that it would send $2.7-3.3 billion in aid to Ukraine every year from the interest on seized assets.

Such actions are being taken continuously by western countries against Russia. Responding to this, Putin has signed a proposal. This proposal would allow Russian claims on US assets located within Russia's borders.

Why is Russia confiscating property?

According to Russian state media, the losses incurred due to the confiscation of Russian movable and immovable property in the US and Russian companies' stakes in American companies will be compensated from these American assets. Russian media claimed earlier this year that the Kremlin had identified approximately $290 billion of US and its alliance assets that could be seized to offset sanctions and asset freezes.

According to reports, Russia has already seized the physical assets of several different Western companies and millions of dollars held by European banks in Russia. Since the beginning of the Ukraine war, thousands of Western companies working in Russia have left the country.

America's big plan

America has presented a plan to help Ukraine before the G7 countries Canada, France, Germany, Italy, Japan, United Kingdom and European Union. Under which Russia's assets will be used to provide assistance of 50 billion dollars to Ukraine. This American proposal was passed in Congress and President Biden signed this law last week. After which America can confiscate Russia's assets and use them to help Ukraine.

A task force has identified at least $5 billion in assets of Russia's Central Bank in the US banking system. According to the Bloomberg report, Germany has also indicated that it will adopt this plan of America and confiscate Russian assets present in Germany.