FILE PHOTO: The Russian national flag flies on a vessel moving along the strait of East Bosphorus in Vladivostok January 27, 2011. REUTERS/Yuri Maltsev/File Photo
MOSCOW (Reuters) - Russia is set to widen its power to retaliate for Western asset seizures with new legislation that could allow it to confiscate the frozen funds of foreign companies and investors, two sources familiar with the draft law told Reuters.
Around $300 billion of Russian financial assets, such as major currencies and government bonds, were frozen overseas shortly after Moscow despatched troops to Ukraine in February 2022, and Western countries have been debating how best to exploit those assets.
