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Myth of inviolability of private property in US, EU ruined — Duma speaker

In that connection Vyacheslav Volodin called for using the capital amnesty law the State Duma voted for on Friday, which allows for bringing assets back to Russia

Russian State Duma Speaker Vyacheslav Volodin Anton Novoderezhkin/TASS

Russian State Duma Speaker Vyacheslav Volodin

© Anton Novoderezhkin/TASS

MOSCOW, March 5. /TASS/. Russian State Duma Speaker Vyacheslav Volodin has said that the myth of the inviolability of private property on which the legal system of the US and EU countries is based has been ruined.

"The myth about the inviolability of private property on which the legal system of the United States and the EU rests upon has been ruined. Properties, bank accounts and pre-paid goods are confiscated on account of nationality," Volodin said on his Telegram channel. "Nothing new. Only beautiful illusions instead of the inviolability of rights and freedoms."

Volodin recalled that at a meeting with businessmen 20 years ago President Vladimir Putin warned them of the risks of placing assets in offshore zones.

"At that time Russia had not encountered sanctions yet. Putin’s words have turned out to be prophetic. Those who preferred to keep their properties and financial assets in these countries made a fatal mistake," he said.

In that connection Volodin called for using the capital amnesty law the State Duma voted for on Friday, which allows for bringing assets back to Russia.

"Your money will be safer and you will feel calmer at heart that way," Volodin said.

On March 4, the State Duma voted for a law on the fourth stage of capital amnesty. The bill, initiated by the Russian government, was presented in a package of measures for support of individuals and businesses amid sanctions. It concerns the voluntary declaration of properties and bank accounts, legal guarantees of individuals’ capital and properties and also the protection of their property interests. The declaration can be filed between March 14, 2002 and February 28, 2023.

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