Advertisment
Saturday, August 13, 2022
  • About Us
  • Contact Us
  • TNG Board
  • TNG Investigation
  • Login
TheNewsGuru
  • Trending
  • News
    • Nigeria
    • World
  • Politics
  • Entertainment
  • Sports
    • Football
  • Business News
  • Technology
No Result
View All Result
TheNewsGuru
  • Trending
  • News
    • Nigeria
    • World
  • Politics
  • Entertainment
  • Sports
    • Football
  • Business News
  • Technology
No Result
View All Result
TheNewsGuru
No Result
View All Result

Home » World » Ukraine war: Russia threatens to nationalise foreign companies

Ukraine war: Russia threatens to nationalise foreign companies

Ediri Oyibo by Ediri Oyibo
5 months ago
in World, World
Reading Time: 1 min read
A A
0
The pull of Putin
283
SHARES
1.5k
VIEWS

Western businesses leaving Russia due to the war may have their companies and production facilities confiscated by the Russian state, according to Moscow.

Businesses that leave the country are “basically abandoning their staff to their fate,” said former Russian president Dmitry Medvedev on Thursday.

To prevent people ending up unemployed and on the streets, the Russian government is taking steps to bring about the insolvency and subsequent nationalisation of these companies, the deputy chief of the Russian Security Council said.

RecommendedReads

Finally, Trump wears mask in public

FBI raids Donald Trump’s Mar-a-Lago home

4 days ago
1.6k
WAR: UN warns Russia over attack on external facilities in Ukraine

WAR: UN warns Russia over attack on external facilities in Ukraine

4 days ago
1.5k

On the foundation of the assets left behind by “investors in panic,” new industry would have to be built. This approach is objective and fair,” said Medvedev.

Among the affected are companies from Germany, other EU countries, and the U.S.

There is no law in Russia to nationalise a company’s assets.

But calls are growing among Russian politicians for such a law in reaction to the EU sanctions and it is expected that the Russian parliament will decide on such a process soon.

Many Western companies had only reported that operations are being paused at first, without mentioning full closure or withdrawal.

“Whatever the reasons for moving away, foreign firms should understand that it will not be easy to come back to our markets,” Medvedev said.

Kremlin spokesperson, Dmitry Peskov, warned that a nationalisation of Western companies and seizure of their assets could have negative consequences for both sides, as Russsian companies abroad may also have their assets seized.

Proposals are also circulating for the assets of companies in Russia to be handled through fiduciary trusts.

Author

  • Ediri Oyibo

    View all posts

Tags: EURussiaU.S.Ukraine
SendShare113Tweet71
Previous Post

Ebonyi: Vacate office now, PDP nominee Gov, Igariwey tells Umahi

Next Post

Anglican Church dismisses priest over alleged misconduct

Related Contents

Policemen, civilians die after violent protest in Sierra Leone
News

Policemen, civilians die after violent protest in Sierra Leone

1 day ago
1.4k
Another deadly disease  ‘Langya’ Virus hits China, many infected
News

Another deadly disease ‘Langya’ Virus hits China, many infected

2 days ago
1.4k
12-year-old Nigerian kills mother in US by accidental discharge of firearm
Nigeria

12-year-old who shot Nigerian mother dead in US remains with family

2 days ago
1.6k
Load More
Next Post
COVID-19: Don't share Bible, hymn books in church - FG tells Christians

Anglican Church dismisses priest over alleged misconduct

UEFA announces new venues for UCL, Europa league fixtures

UEFA looking into referee report after PSG exit at Real Madrid

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Western businesses leaving Russia due to the war may have their companies and production facilities confiscated by the Russian state, according to Moscow. Businesses that leave the country are “basically abandoning their staff to their fate,” said former Russian president Dmitry Medvedev on Thursday. To prevent people ending up unemployed and on the streets, the Russian government is taking steps to bring about the insolvency and subsequent nationalisation of these companies, the deputy chief of the Russian Security Council said. On the foundation of the assets left behind by “investors in panic,” new industry would have to be built. This approach is objective and fair,” said Medvedev. Among the affected are companies from Germany, other EU countries, and the U.S. There is no law in Russia to nationalise a company’s assets. But calls are growing among Russian politicians for such a law in reaction to the EU sanctions and it is expected that the Russian parliament will decide on such a process soon. Many Western companies had only reported that operations are being paused at first, without mentioning full closure or withdrawal. “Whatever the reasons for moving away, foreign firms should understand that it will not be easy to come back to our markets,” Medvedev said. Kremlin spokesperson, Dmitry Peskov, warned that a nationalisation of Western companies and seizure of their assets could have negative consequences for both sides, as Russsian companies abroad may also have their assets seized. Proposals are also circulating for the assets of companies in Russia to be handled through fiduciary trusts.
No Result
View All Result
  • Columnist
  • News
    • National
    • World
  • TNG Investigations
  • Politics
  • Business
  • Entertainment
  • Tech

© 2021 Thenewsguru.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
targetBlank();
We use cookies to offer you a better browsing experience. If you continue to use this site, you consent to our use of cookies.
I Accept Cookies
We use cookies to offer you a better browsing experience. If you continue to use this site, you consent to our use of cookies.
I Accept Cookies