Putin Signs Decree Taking over Russian Assets of Two Foreign Firms

President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signaling Moscow could take similar action against other companies if need be. The decree - outlining possible retaliation if Russian assets abroad are seized - showed Moscow had already taken action against Uniper SE's Russian division and the assets of Finland's Fortum Oyj. The decree said Russia needed to take urgent measures to respond to unspecified actions from the United States and others it said were "unfriendly and contrary to international law". The shares in the two entities have been placed in the temporary control of Rosimushchestvo, the federal government property agency, the decree said. In February, U.S. Treasury Secretary Janet Yellen said Russia should bear the costs of damage caused by its war on Ukraine, adding though there were "significant legal obstacles" to confiscating major frozen Russian assets. Read more.