Medvedev promised Moscow's response to the US law on confiscation of Russian assets

(Patria) - Moscow's response to the US legislation providing for the confiscation of Russian assets will be strong, said Deputy Chairman of the Russian Security Council Dmitry Medvedev.

"Only an asymmetric response is possible. However, that does not mean it will sting less," Medvedev wrote on Telegram, as reported by TASS.

He proposed adopting a law that would allow Russia to confiscate assets of citizens from hostile countries.

According to him, Russian legislation "should provide not only for restricting the rights of foreign nationals, but also for revoking their rights to enable the forced seizure of assets of entities from hostile countries and granting them to the Russian government, entities, and individuals," adding that "this will require certain amendments to the Russian Civil Code." The European Union, Canada, the United States of America, and Japan froze $300 billion
of Russian assets after Moscow launched its invasion of Ukraine.

Approximately five to six billion dollars of frozen Russian assets are held in US banks.

The US Senate on April 24 adopted a package of laws on military aid to Ukraine, Israel, and Taiwan. One of the laws authorizes Washington to confiscate Russian assets to help Ukraine.