Reports from major global financial news outlets or direct announcements from Russian authorities

Russia Threatens Retaliation Over U.S. REPO Act, May Seize Western Assets

Apr 23, 2024, 06:45 AM

Following the U.S. House of Representatives' approval of the REPO Act, which allows the confiscation of frozen Russian assets to aid Ukraine, Russian officials have threatened retaliatory actions. State Duma Speaker Vyacheslav Volodin emphasized Russia's right to confiscate Western assets in response, highlighting that of the Russian $280 billion, only $5-6 billion are in the U.S. The Kremlin has described the U.S. move as a dangerous precedent and an encroachment on property, warning that such actions could lead to legal challenges and further retaliation.