Russia plans to nationalise and sell off foreign assets as part of a new privatisation mechanism in response to any steps taken by Europe to seize Russian assets abroad, Bloomberg reports, citing a source close to the Russian government.
According to Bloomberg, Russian President Vladimir Putin has signed a decree allowing for the accelerated sale of state assets under a special procedure.
The document, published on the Russian government’s website, states that the decree limits the pre-sale appraisal to 10 days and speeds up the state registration of ownership rights.
Earlier, the US Senate introduced a resolution calling on the executive branch, as well as the leaders of the G7 countries and the European Union, to seize Russia’s sovereign assets and send them to Ukraine in tranches of at least $10 billion per month.
