Western firms in Russia risk losing their assets if the US touches Russia's frozen reserves, a think tank expert wrote.
Instead, Moscow could target foreign holdings that remain in Russia, making Western companies vulnerable to costly expropriation risk.
That's on top of previous measures Russia introduced in retaliation to Western sanctions, such as the freezing of bank accounts owned by "unfriendly" non-residents.
Taking the Kremlin at its word, $290 billion worth of Western assets are liable for seizure.
"Earlier this month, Russia seized more than €700m ($757m) from three Western banks after a construction project fell apart as a result of Western sanctions.
Persons:
Elisabeth Braw, —, Braw, That's, David O'Sullivan
Organizations:
Service, Atlantic, Center for, West, Reuters, Carlsberg, Danone, European, RBC Ukraine
Locations:
Russia, West, Moscow, Russian, Ukraine