Azerbaijan news

Foreign companies may be nationalized in Russia

To the project according tostate-owned Vnesheconombank and The export guarantee agency will have the right to control the property of foreign companies

In order to prevent the mass influx of foreign companies from Russia, the country’s Ministry of Economy the law developed a project. It seems that the groundwork has been laid for the nationalization of companies.

To the project according tostate-owned Vnesheconombank and The export guarantee agency will have the right to control the property of foreign companies.

Russia A number of international companies have suspended operations in Russia since the February 22 attack on Ukraine.

The first step towards nationalization

Judge Vahid Russia party information according tothis legislation is “the first step towards the nationalization of foreign organizations leaving Russia.” Judge the party has a majority in parliament and immediately approves the initiatives of the government or the Kremlin.

It is said in the legislation that, If the heads of foreign companies “de facto” stop doing business, Russia will have the right to control them for three months. Or if foreign company executives “unreasonably” liquidate or bankrupt companies, the government can take control of them within six months.

Shares of new companies will be sold, and old ones will be liquidated. If no one is interested in new companies, they will be nationalized, the law It turns out that the project.

The list has been prepared

“Izvestia” newspaper to the government of the ministry and To the Prosecutor General’s Office Russia left the market and sent a list of 60 possible foreign companies to nationalize.

The list includes Volkswagen, AppleIKEA, Microsoft, IBM, Shell, McDonald’s, Porsche, H&M and There are other companies. Goldman Sachs first big Wall Street bankAs a result, it announced the complete cessation of operations in Russia. JPMorgan Chase is in Russia bank has stated that it will gradually suspend its business.

President of Russia Vladimir Putin March 10spoke about Western sanctions that hit the country’s economy:

“Sanctions have always been under pressure. Of course, this time it is complex, it creates certain difficulties and problems for us. But we will cope now, as we did in previous years. We have to go through this period. The economy will definitely adapt to the new situation, “he said.Putin he said.

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