All articles tagged with #foreign assets
President Vladimir Putin signed an executive order on Monday placing the Russian subsidiary of German retailer Metro AG under state temporary management. The shares were transferred to Torg Rus, a firm registered earlier this month, while Metro Russia stated it continues normal operations. This move follows recent seizures of French and Swiss assets and coincides with diplomatic tensions between Moscow and Berlin.
Russia's Lukoil plans to sell its foreign assets due to the impact of US sanctions, as the company faces increased financial pressure and seeks to mitigate risks associated with international restrictions.
Russian President Vladimir Putin has signed a decree allowing temporary control over foreign companies' Russia-based assets, marking the country's latest retaliation to the freezing of its assets abroad over the invasion of Ukraine. The move will be handled by Russia's Federal Agency for State Property Management, Rosimushchestvo, and is described as "urgent action in response to the unfriendly and contrary to international law actions of the United States and its foreign associates." The Kremlin said the decree will be applied on a case-by-case basis and is not tantamount to expropriation.
Russian President Vladimir Putin has signed a decree establishing temporary control of the Russian assets of two foreign energy firms, Uniper and Fortum, as a possible retaliation if Russian assets abroad are seized. The move comes in response to "unfriendly and contrary to international law" actions from the United States and others. The shares in the two entities have been placed in the temporary control of Rosimushchestvo, the federal government property agency. The agency said more foreign firms could find their assets under temporary Russian control, but the decree does not concern ownership issues and does not deprive owners of their assets.