"Volodin stated that up to $500 billion worth of Western assets were blocked on the territory of the Russian Federation, which counterbalances the $300 billion of Russian reserves blocked in the West.
"In the event of the confiscation of the property of Russian oligarchs in the West, Russia will begin to confiscate the property of Western businesses in Russia."
Volodin, from this report today Russia should respond symmetrically to asset freezes by 'unfriendly countries' - Duma chairman | Reuters is the Chairman of Russia's Duma, lower house of parliament.
Looks like the hardliners won out. Putin had wanted to play Mr Magnanimous and not engage in retaliation against Western financial moves, but I guess when 300 billion dollars talks, nobody walks.
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