Russian President Vladimir Putin has signed a significant decree pertaining to Moscow’s overseas real estate holdings, a move that has caught the attention of ultranationalist bloggers who interpret it as laying the groundwork for potential revanchism against Russia’s neighboring countries, and even the United States.

The decree, signed by President Putin in the past week, earmarks funds for the search, registration, and legal safeguarding of Russian properties abroad, including those in the former territories of the Russian Empire and the Soviet Union. This encompasses areas such as Alaska, parts of Eastern and Central Europe, significant portions of Central Asia, and segments of Scandinavia.

The responsibility for this endeavor falls upon Russia’s Foreign Ministry and the Foreign Property Management Enterprise of the presidential administration, which are tasked with locating, registering, and protecting the identified “property.” However, it remains unclear precisely what falls under the definition of “current or historical Russian property.”

The Institute for the Study of War (ISW) has noted that the decree could potentially be employed as a means to extend Moscow’s influence in countries beyond its internationally recognized borders, using soft power mechanisms to destabilize neighboring states.

Some ultranationalist and pro-war military bloggers have framed the decree as a potential precursor to territorial disputes with Russia’s neighbors, including the United States. One such blogger, the Two Majors Telegram channel with over 530,000 subscribers, suggested initiating such disputes with Alaska and then expanding territorial claims to areas including Dnieper Ukraine, Bessarabia, the Grand Duchy of Finland, Armenia, Azerbaijan, Georgia, the Central Asian states of Russian Turkestan, a substantial portion of the Baltic provinces, and parts of Poland.

The channel even mentioned the possibility of searching for “property” in the former East Germany and other Warsaw Pact countries from the Cold War era. This speculation extends to Africa, hinting at potential territorial claims there as well.

It is worth noting that Putin has previously downplayed the 1867 sale of Alaska to the United States, referring to it as an “inexpensive” deal. However, some of his allies have hinted at the possibility of revisiting the issue as a territorial dispute.

The ISW believes that such ambitions are unlikely to be realized, but the reactions from ultranationalist circles in Russia reflect a deep-seated revanchist sentiment. This sentiment is rooted in Moscow’s perceived failure to achieve its objectives, particularly in its conflict with Ukraine, and Putin’s apparent reluctance to call for a full national mobilization.

There is speculation that the Kremlin may consider a new round of mass mobilization after the March presidential election, which Putin is widely expected to win. Given Putin’s steadfast stance on Ukraine, there are concerns that Russia may initiate a major offensive operation in 2024, further escalating tensions in the region.