Putin signs decree to allow confiscation of U.S. property

MOSCOW, May 23 (Xinhua) -- Russian President Vladimir Putin signed a decree Thursday on the seizure of U.S. properties in response to the potential confiscation of Russian assets by the United States.

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 United States.

A special commission of the Russian government will identify U.S. assets or properties, including movable and immovable U.S. 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.