Los Angeles ? A Norman Rockwell work stolen more than three decades ago from suburban St. Louis was found in Steven Spielberg’s art collection, the FBI announced Friday.

The painting, Rockwell’s “Russian Schoolroom,” was snatched June 25, 1973, during a late-night burglary at a gallery in Clayton, Mo. The Oscar-winning filmmaker purchased the painting in 1989 from a legitimate dealer and didn’t know it was stolen until last week, the FBI said in a statement.

Spielberg’s staff alerted federal authorities, and an FBI agent and an art expert inspected the painting at one of Spielberg’s offices and confirmed its authenticity Friday morning. Early FBI estimates put the painting’s value at $700,000, officials said.

The oil-on-canvas painting shows children in a classroom with a bust of communist leader Vladimir Lenin. Spielberg is cooperating with the FBI and will retain possession of the Russian Schoolroom until its “disposition can be determined,” the bureau said.