Russia threatens to confiscate property of Western companies

The Federation Council of Russia is developing a bill that would allow the president and government to confiscate property, assets and accounts of European and American companies, says Andrey Klishas, Head of the Federation Council Committee for Constitutional Legislature, RIA Novosti reports.In his words, lawyers are studying the issue. Klishas has no doubts that such bill would meet European standards. He reminded that confiscation had been one of the main conditions for EU aid to Cyprus.

The Federation Council of Russia is developing a bill that would allow the president and government to confiscate property, assets and accounts of European and American companies, says Andrey Klishas, Head of the Federation Council Committee for Constitutional Legislature, RIA Novosti reports.

In his words, lawyers are studying the issue. Klishas has no doubts that such bill would meet European standards. He reminded that confiscation had been one of the main conditions for EU aid to Cyprus.