--- title: "Putin's Decree on Escheat Property: How the State Seizes Savings of Deceased Russians Without Heirs" description: "In early November 2026, Vladimir Putin signed a decree establishing a mechanism for the state to seize bank savings of deceased Russians without heirs. The measure is formally justified by economic security." date: 2026-11-13T10:35:36.250Z lang: en url: https://xab.info/en/posts/putin-decree-escheat-property-seize-savings tags: [russia, banking, inheritance, state-property, putin-decree, escheat] author: "Darya Fomina, Andrey Kosynko" publisher: "XAB.info" --- # Putin's Decree on Escheat Property: How the State Seizes Savings of Deceased Russians Without Heirs ![Neon shield and stacks of coins on a dark background symbolizing financial protection](https://xab.info/media/2026/11/13/ukaz-putina-o-vymorochnom-imushchestve-izyatie-sberzheniy-umershih-rossiyan/ukaz-putina-o-vymorochnom-imushchestve-izyatie-sberzheniy-umershih-rossiyan-1.webp) ## Key Points - Putin's decree creates a mechanism for transferring bank savings of deceased Russians without heirs—rubles, currency, and precious metals—into Russian ownership. - The legal basis is an amendment to the law on countering "unfriendly" actions, which entered into force on June 10, 2026, and was introduced via an expedited procedure. - The government is obligated to draft a corresponding bill by April 1, 2027. In early November 2026, Russian President Vladimir Putin signed a decree "On Certain Peculiarities of Transferring Escheat Property into the Ownership of the Russian Federation." The document establishes a legal mechanism whereby the state gains the right to withdraw from banks the savings of deceased citizens who left no heirs. In essence, this concerns the transfer to federal ownership of funds accumulated by a person during their lifetime but not passed on by inheritance to any relative or other successor. ### What Exactly the State Seizes According to the text of the decree, rubles, foreign currency, and precious metals held in bank accounts and deposits of deceased Russians are transferred to the ownership of the Russian Federation. The key condition is the absence of heirs to whom these assets could pass by law or by will. Thus, this is not about the confiscation of property from living citizens, but about "escheat" assets, which in civil law are considered left without heirs and subject to transfer to the state. ### Legal Basis: The Law on Countering "Unfriendly" Actions In the decree itself, authorities explicitly state that the measure was introduced "to ensure economic security" of the country and is implemented within the framework of the law "On Impact (Countering) Measures Against Unfriendly Actions of the United States of America and Other Foreign States." Formally, it is an amendment to this law, which entered into force on June 10, 2026, that gives the state the right to create a special mechanism for searching and transferring escheat property into federal ownership. The amendment added two new clauses to Article 4², allowing the establishment of special procedures for identifying, registering, and transferring such property. Notably, the change was made through an expedited procedure: amendments introduced on May 21 were adopted in two readings on May 25 with virtually no discussion, and one of their co-authors, United Russia deputy Sergei Ten, did not mention escheat property when presenting the bill. ### The Context of Article 4² and Its Evolution The law on countering "unfriendly" actions was adopted back in the summer of 2018, but Article 4² was only added in June 2022—several months after the start of Russia's full-scale invasion of Ukraine and the imposition of large-scale sanctions by Western governments. This article allows the president to restrict transactions of Russians and Russian organizations with foreigners, impose bans and limits on foreign currency operations, and freeze funds and other property. Initially, the title of the article referred to maintaining financial stability, but in December 2023, the wording was changed to "ensuring economic sovereignty and economic security." The article was also added in an expedited manner at the request of the government and the Central Bank. ### Why This Became Possible: The Legal Vacuum An important technical moment: Russia still lacks a law that details the procedure for the transfer of escheat property into federal ownership. Meanwhile, Article 1151 of the Civil Code requires that the procedure for inheritance and accounting of such property be determined at the legislative level. It is precisely this legal vacuum that the presidential decree fills, establishing the specifics of asset transfer and instructing the government to draft a corresponding bill. ### Timeline and Next Steps The penultimate paragraph of the decree sets a clear deadline: the cabinet must draft a corresponding bill and submit it by April 1, 2027. Until this moment, the mechanism will rely on the presidential act and the amendment to the law on countering "unfriendly" actions. Thus, the seizure of savings of deceased Russians without heirs is framed as an element of crisis management and "anti-sanction" legislation, rather than as a separate inheritance or banking regulation. ## Fact-Check & Sources - [Власти решили изъять из банков деньги и золото умерших россиян. По их мнению, это поможет в борьбе с США и другими «недружественными» странами](https://meduza.io/cards/vlasti-reshili-iz-yat-iz-bankov-dengi-i-zoloto-umershih-rossiyan-po-ih-mneniyu-eto-pomozhet-v-borbe-s-ssha-i-drugimi-nedruzhestvennymi-stranami) - The primary source contains the text of the presidential decree, amendments to Article 4² of the law on countering "unfriendly" actions, the chronology (amendment in force since June 10, 2026; Article 4² added in June 2022; wording changed in December 2023), and the deadline for the government—until April 1, 2027. ## FAQ ### Whose property does the state seize under the new decree? The state takes the bank savings of deceased Russians who have no heirs: rubles, foreign currency, and precious metals in accounts and deposits. ### On what legal basis is this mechanism introduced? On the basis of an amendment to the law on countering "unfriendly" actions, which entered into force on June 10, 2026, and a presidential decree formally justified by economic security. ### When must the government adopt a corresponding law? According to the decree, the cabinet must draft a corresponding bill by April 1, 2027.