A special recording procedure for certain securities will be in effect until the end of 2025
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07.06.2024
RUSSIAN ASSETS CONFISCATED IN THE UNITED STATES ARE COMPENSATED BY AMERICAN ASSETS LOCATED IN RUSSIA
The President instructed the RF Government to establish a special procedure for compensation for damage caused to the Russian Federation or the Central Bank of the Russian Federation in the event of unjustified deprivation of Russian property rightholders by decision of the US authorities.
In accordance with this procedure, the Russian rightholder has the right to apply to court (in compliance with Russian rules of jurisdiction) with an application to establish the fact of unjustified deprivation of his/her rights to property and compensation for damage. The court shall request a list of American property that can be used to compensate for damages from the Government Commission for Control of Foreign Investments in the Russian Federation. This may be US persons’ or the United States’ movable and immovable property located in the territory of the Russian Federation, or securities owned by them, or shares in Russian companies, or property rights.
By court decision, rights to American property shall be terminated, and it shall be transferred to the Russian rightholder in order to compensate for damage.
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