Russia prepares to seize western firms looking to leave

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Russia prepares to seize western firms looking...
 © CyprusMail 2022
Russia is advancing a new law allowing it to take control of the local businesses of western companies that decide to leave in the wake of Moscow’s invasion of Ukraine, raising the stakes for multinationals trying to exit.

The law, which could be in place within weeks, will give Russia sweeping powers to intervene where there is a threat to local jobs or industry, making it more difficult for western companies to disentangle themselves quickly unless they are prepared to take a big financial hit.

The law to seize the property of foreign investors follows an exodus of western companies, such as...

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Article automatically added to our system on Friday, May 27, 2022

Russia prepares to seize western firms looking to leave

Contents of this article including associated images are © CyprusMail 2022
Views & opinions expressed are those of the author and/or CyprusMail .

Article Tags: #russia   #prepares   #seize   #western   #firms   #looking   #leave  

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