Russian President Vladimir Putin has stated that Russia has no plans to retaliate against the seizures of Russian properties abroad by nationalizing foreign assets at home.
Russia Today reported on Wednesday that there was no plans to nationalize foreign assets in Russia, quoting the Russian president but not specifying where and when he made the statements.
RT quoted Putin as saying, “Unlike Western countries, we will respect property rights.” According to Putin, the arrests of the nation’s foreign assets and those of Russian businesses is a lesson for the country’s entrepreneurs.
“There is nothing more reliable than investments at home,” the president said.
“We must understand that a new package of sanctions and restrictions against us would have followed in any development of events.”
The European Union and its member countries, the United Kingdom, the United States and their allies had in response to the Russian Invasion of Ukraine put unprecedented sanctions on Russia, President Putin, his cabinet members a many Russian Oligarchs who are said to be close to Putin.
Some of the sanctions included the freezing and seizures of assets of these Russian Billionaires. Some of the assets already seized includes luxury yachts, and the most high profile being the freezing of Chelsea FC belonging to Roman Abramovich.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur