Russia Mulls Confiscating Foreign Companies' Assets

The upper house of Russia’s parliament is mulling measures allowing property and assets of European and US companies to be confiscated in the event of sanctions being adopted against Russia over its threatened military intervention in Ukraine. The bill’s author, Federation Council constitutional legislation committee head Andrei Klishas, said Wednesday that lawyers are currently studying whether the proposed confiscations would be constitutional. “But we have no doubts that it clearly corresponds to European standards,” Klishas told RIA Novosti. “The recent events in Cyprus spring to mind, where the confiscation of assets was the main demand made by the European Union in return for economic aid.”

http://en.ria.ru/russia/20140305/188113312/Russia-Mulls-Seizing-Foreign-Assets-Over-Sanctions-Threat.html