Russia works on law to hurt EU, U.S. companies as sanctions reply-RIA

MOSCOW, March 5 Wed Mar 5, 2014 7:57am GMT

MOSCOW, March 5 (Reuters) - Russian lawmakers are working on a draft law to allow the confiscation of property, assets and accounts of European or U.S. companies if sanctions are imposed on Russia over Ukraine, RIA news agency said on Wednesday.

RIA quoted Andrei Klishas, head of the constitutional legislation committee in the upper parliament house, as saying the bill "would offer the president and government opportunities to defend our sovereignty from threats".

He added that lawyers were examining whether the confiscation of foreign companies' assets, property and accounts would comply with the Russian constitution but said such steps would "clearly be in line with European standards".