Russia Implements Exit Tax for Foreign Companies

Foreign investors from "unfriendly" countries selling assets in Russia will be obliged to donate at least 10% of the sale price to the Russian budget, making life even harder for Western companies leaving Russia over the conflict in Ukraine. According to a note published on the Finance Ministry's website late on Monday, the government commission that monitors foreign investment updated the requirements for asset sales involving foreigners from countries that have imposed sanctions against Russia, which Moscow labels "unfriendly".