The Crimean Parliament proposes to nationalize the property of unfriendly countries.
The State Council of the Republic, as a subject of legislative initiative, submitted to the State Duma of the Russian Federation a draft law on the seizure of property of unfriendly countries. It is proposed to introduce a rule on the forced seizure of property belonging to unfriendly countries. In March, the list of unfriendly countries was significantly expanded to include 48 states, including Australia, New Zealand, Switzerland, Montenegro, the EU in full force, the USA, Canada, Japan, Taiwan, Singapore, the Republic of Korea, Norway and the UK. The complete list was approved by the Government of the Russian Federation on March 7, 2022.
Bill No. 103072-8 was submitted to the State Duma on April 8 and sent to the Committee on State Construction and Legislation.
What is offered:
- to amend Art. 235 of the Civil Code of the Russian Federation, provide for the possibility of forcible seizure of property in cases provided for by federal law;
- compulsory seizure under this rule, in particular, is subject to property located on the territory of the Russian Federation as of February 24, 2022, belonging to subjects of law from unfriendly states that commit unfriendly actions against Russia, its citizens or organizations;
- it will be possible to seize property under the new law from the following subjects of law: the states themselves, foreign legal entities of unfriendly countries or legal entities associated with unfriendly countries (companies registered in foreign countries, located there or conducting activities), beneficiaries and affiliates of foreign companies, regardless of places of registration, location and activity;
- what assets can be seized: movable and immovable property, securities, cash, deposits, corporate rights and other property belonging to subjects of law falling under the law, directly or through affiliated persons;
- compulsory seizure does not imply reimbursement of its value to former owners.
It is assumed that the procedure for nationalization will be determined by the legislation of the constituent entity of the Russian Federation and carried out on the basis of an act issued by the authorities of the region. The law also regulates the moment of the onset of ownership. That is, in accordance with the project, it is supposed to seize almost any property of unfriendly countries and companies associated with it in any way free of charge.
The bill has yet to go through three readings in the State Duma, approval in the Federation Council, after which it will be signed by the President of the Russian Federation.
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