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IMF issues warning about confiscating frozen Russian assets

Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF First Deputy Managing Director Gita Gopinath has warned in an interview with Foreign Policy magazine published on Monday.  The US and the EU have blocked an estimated $300 billion in assets belonging to the Russian …

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EU agrees to tap profits from frozen Russian assets

EU member states have reached an agreement that is expected to allow Brussels to transfer the income generated by Russia’s frozen central bank reserves to Kiev, according to an X (formerly Twitter) post on Monday by the Belgian presidency of the EU Council.  “EU Ambassadors just agreed in principle on …

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Ukraine’s richest man to lose assets in Russia

A Russian conglomerate will be allowed to buy out the coal-mining companies previously owned by Ukrainian oligarch Rinat Akhmetov, the Kremlin confirmed on Thursday. President Vladimir Putin approved the sale in line with the standing anti-sanctions measures. The joint stock company ‘Best Solution’ will acquire 100% of the shares of …

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Putin ‘temporarily’ nationalizes assets of foreign companies

Russia has temporarily nationalized the assets of two major food and beer manufacturers. All foreign shares of Danone Russia, which is controlled by its French parent company, and Baltika Breweries, controlled by the Danish Carlsberg Group, have been handed over to the Russian Federal Property Management Agency following a presidential …

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Ukraine launches fire sale of state assets – Bloomberg

Ukraine is looking for “brave” investors as it seeks to sell big state-run companies at distressed prices to raise funds for its aid-dependent budget, Bloomberg reported on Thursday, citing the head of the State Property Fund (SPF), Rustem Umerov. Currently, more than 3,500 companies are listed as state-owned with almost …

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US Senate authorizes confiscation of Russian assets

The US Senate has greenlit legislation authorizing the administration of President Joe Biden to seize the American assets of Russian officials, businessmen and entities and send the proceeds to Ukraine. South Carolina Republican Senator Lindsey Graham said the change in the law would raise “billions of dollars” for Kiev. The …

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Ukraine snatching up millions worth of Russian assets – Zelensky

Ukraine has seized about $765 million worth of Russian assets in the country, Ukrainian President Vladimir Zelensky said on his Telegram channel on Saturday. “Held a meeting today on sanctions policy, confiscation of Russian assets. As government officials reported, assets worth 28 billion hryvnias {about $765 million} have already been …

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US fears consequences of seizing Russian assets – NYT

The White House fears that the confiscation of Russian assets could damage its reputation, the New York Times reported on Tuesday. According to the newspaper’s sources, top officials in President Joe Biden’s administration believe the seizure of assets would be illegal and could discourage other countries from relying on the United States …

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Kiev seizes assets of Russian oil major

Kiev has started proceedings to seize the assets of Russian oil giant Rosneft, the Security Service of Ukraine (SBU) said on its Telegram channel on Saturday. “The SBU initiated the seizure of Rosneft’s assets in Ukraine… According to the materials of the SBU, the activities of the energy company, which …

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Ukraine to seize assets of alleged Russia sympathizers

Ukrainian President Volodymyr Zelensky has signed a law, on Monday, allowing the confiscation of assets from citizens accused of supporting Russia in the ongoing conflict. The legislation, which parliament passed in mid-May, states that the seizure of assets is an extraordinary measure which can be only used during martial law …

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