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US and UK authorities could face lengthy lawsuits as they try to confiscate the property of sanctioned Russian billionaires. It is reported by Bloomberg with reference to a survey conducted among lawyers.
According to the publication, claims due to ownership may affect assets in shell offshore companies, as well as yachts and aircraft of Russian oligarchs located in inaccessible jurisdictions. The same goes for assets held in the name of relatives or cryptocurrencies – the confiscation of this kind of property will be even more difficult to implement.
Thus, Ori Lev, a partner at the international law firm Mayer Brown, clarified that even if the assets are frozen due to sanctions, and not arrested, their owners may demand their unfreezing through the courts.
Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
