Russian dictator Vladimir Putin signed a decree on the allocation of funds for the search, registration and legal protection of foreign real estate belonging to Russia, including the period of the times of the USSR and the Russian Empire.
Putin wants to start a search for the Russian Empire's property abroad
The document signed by the head of the Kremlin states that the Presidential Affairs Office and the Ministry of Foreign Affairs of the Russian Federation will deal with this issue.
The allocated funds are intended to cover expenses related to "searching for real estate of the Russian Federation, the former Russian Empire, the former USSR, proper registration of rights and legal protection of this property."
What is essential to understand is that Putin made this decision amid the European Union's active implementation of the European Commission's proposal to use the proceeds of $300 billion of frozen Russian assets in the interests of Ukraine.
Reacting to the official decision, Moscow threatened possible legal proceedings and promised a mirror response in case of confiscation of Russian assets.
According to Kremlin spokesman Dmitry Peskov, Russian dictator Putin's team regards any attempts at confiscation as "outright theft."
EU is already working on proposals regarding Russia's frozen assets
On January 16, it was officially announced that technical work had begun in Brussels to implement proposals for the use of frozen Russian assets for the benefit of Ukraine.
Regarding frozen and immobilised assets, we analyzed the proposals of the European Commission and the High Representative (Joseph Borrell — ed.) received in December 2023 and confirmed our firm commitment to their swift implementation. Work at the technical level has begun, and we aim to make rapid progress, — said the head of the Belgian Foreign Ministry, Vincent van Peterhem.
What is essential to understand is that Belgium took over the presidency of the EU Council on economic and financial issues.
