Russia to use all legal mechanisms to protect property abroad against seizure

Russia will use all legal mechanisms to protect its assets abroad against seizure, spokesman for the Kremlin Property Management Department Viktor Khrekov said on Tuesday.

"All available legal mechanisms will be used and measures will be taken exclusively within the legal framework," Khrekov said, commenting on a statement by Ukrainian Deputy Justice Minister Natalia Sevostyanova that Kiev might demand the seizure of Russia’s foreign property as compensation for the loss of Crimea.

Russia will take all legal measures through Roszagransobstvennost federal state unitary enterprise, which is part of the Kremlin Property Management Department, Khrekov said.

Attempts to seize Russian property abroad were also made before and Roszagransobstvennost has gained experience in taking such legal measures, the spokesman said.

The Kremlin Property Management Department spokesman said "there is not a single property in Ukraine that belongs to Russia."

After the break-up of the Soviet Union, Russia signed agreements with former Soviet republics on the repayment of their foreign debts in exchange for their overseas property, Khrekov said.

However, some ex-Soviet republics, for example, Ukraine, adopted the so-called blocking note and are trying to prevent property re-registration and are claiming some assets, Khrekov said, adding that Russia had fully repaid Soviet Ukraine’s foreign debts.

Negotiations on settling this issue have been going on for many years but have yielded no results so far, the Kremlin Property Management Department spokesman said.