Russia may freeze assets of foreign companies leaving its market: Report

Russian President Vladimir Putin speaks during a live televised speech in Moscow, Russia, Friday, March 23, 2018. Russian electoral officials have officially declared incumbent President Vladimir Putin the winner of last Sunday's election. The Central Election Commission on Friday issued final results, showing that Putin won nearly 77 percent of the vote. Communist candidate Pavel Grudinin came second with nearly 12 percent. (Mikhail Klimentyev, Sputnik, Kremlin Pool Photo via AP) ORG XMIT: XAZ106

Moscow [Russia]: Assets of foreign companies that are suspending or terminating their services in Russia may be frozen, and property rights restricted, Andrey Klishas, the chairman of the Russian upper chamber’s Committee on Constitutional Legislation, told Sputnik on Thursday.

“In relation to foreign companies from unfriendly countries that are leaving Russia, not only can such measure as nationalization be applied, but also restriction of property rights, a ban on voting by stock of shares in subsidiaries, freezing of assets, and other measures,” Klishas said.
After Russia launched its military operation in Ukraine, many international businesses began to leave the Russian market, with over three dozen international companies declaring a downsizing or suspension of their operations in the country, including major air and auto manufacturers, big tech and energy companies. (ANI/Sputnik)

 

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