Russia Devises Plan to Seize Firms Abandoned in Foreigner Exodus
Russia's Economic Development Ministry has drafted legislation aimed at preventing the mounting exit of international businesses from Russia over the war in Ukraine, and potentially laying the groundwork for nationalizing them.
The bill envisions that the state-owned Vnesheconombank and the state export-guarantee agency would have the right to seize the property of foreign companies that left Russian markets of their own accord.
The bill comes as a growing number of major international companies have announced they will suspend operations in the country, or pull out altogether, in connection with Russia's invasion of Ukraine.