Putin sets up counter to possible asset seizures by US | NHK WORLD-JAPAN News

Russian President Vladimir Putin has signed a decree allowing the seizure of United States assets in Russia should Washington confiscate Russian holdings that were frozen under sanctions.

The decree states US assets including property and securities of US citizens in Russia can be used to compensate for damages from the seizure of Russian-owned items in the United States. A government panel would decide on which assets to use on the order of a court.

The United States has enacted laws that allow it to seize Russian assets in the US to support Ukraine.

On Tuesday, members of the European Union agreed to use interests on assets of Russia’s central bank for military support to Ukraine and other purposes.

Group of Seven financial ministers and central bank governors are expected to discuss the issue at meetings in Italy scheduled to begin on Friday.

Meanwhile, Russian missiles struck the eastern Ukrainian city of Kharkiv on Thursday as Russian forces intensify their offensive on the country. Interior minister Ihor Klymenko says Thursday’s attacks killed seven people and injured 17 others.

Ukrainian President Volodymyr Zelenskyy is calling on the United States and Europe to provide more support. In a social media post, he said what he describes as “Russian terrorists” are taking advantage of Ukraine’s lack of sufficient air defense protection.