Us slams reports have slammed rumors that Moscow may confiscate the assets of companies that have ceased operations in Russia as a result of the invasion of Ukraine.
Jen Psaki, the White House press secretary, cautioned that such a move would lead to “additional economic damage.”
Her remarks come as us slams reports Congress approves a budget bill. The bill includes nearly $14 billion (£10.7 billion) in emergency aid for Ukraine.
Today, President Biden is about to announce further sanctions against Russia.
Ms. Psaki stated on Twitter that taking the assets of foreign corporations would be a “lawless decision.”
Moscow has threatened to nationalize industrial plants or factories where work has been ceased in reaction to an increasing number of companies ceasing operations.
The ruling United Russia party recommended the proposal on Monday. However, Andrei Turchak, the party’s general council secretary, admitted it was an “extreme measure.”
On Thursday, the party stated that President Vladimir Putin was working on “legal options” to implement the plan.
Global firms that are breaking business links or have suspended activities in Russia have informed the BBC that they have no plans to reconsider their plans in light of the reports.
The US Congress enacted a $1.5 trillion budget measure on Thursday in Washington. In fact, this budget contains over $14 billion in emergency funding for Ukraine.
President Biden is anticipated to sign the package into law before the government’s financing runs out on Friday night.
Group Of Seven
On Friday, the US, the Group of Seven (G7), and the European Union are set to take steps to revoke Russia’s “most favored nation” trading status in response to its invasion of Ukraine.
The us slams reports and its allies would be able to slap tariffs on Russia. The revoking of special trading status would make this possible, further isolating its economy.
The G7 consists of the United States, the United Kingdom, Japan, Germany, France, Italy, and Canada.