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In reply to the discussion: Moscow may seize private US assets in Russia if US seizes frozen reserves, says Putin ally [View all]Emrys
(7,293 posts)19. From March 2022: "Russia plans to seize assets of western companies that pull out"
Vladimir Putin prepares economic retaliation for western sanctions, including laws to impound $10bn of leased airline jets
Russia has drawn up plans to seize the assets of western companies leaving the country as the Kremlin pushes back against sweeping sanctions and the exodus of international businesses since its invasion of Ukraine.
Announcing the move after a string of global firms said they would suspend operations in Russia this week, including McDonalds, Coca-Cola and Pepsi, the countrys economic ministry said it could take temporary control of departing businesses where foreign ownership exceeds 25%.
Speaking in a video link with members of his government on Thursday, Vladimir Putin said the Kremlin could find legally viable ways to seize international firms. The government would push to introduce external management and then transfer these enterprises to those who actually want to work, Putin said. There are enough legal and market instruments for this.
https://www.theguardian.com/world/2022/mar/10/russia-plans-to-seize-assets-of-western-companies-exiting-country
Russia has drawn up plans to seize the assets of western companies leaving the country as the Kremlin pushes back against sweeping sanctions and the exodus of international businesses since its invasion of Ukraine.
Announcing the move after a string of global firms said they would suspend operations in Russia this week, including McDonalds, Coca-Cola and Pepsi, the countrys economic ministry said it could take temporary control of departing businesses where foreign ownership exceeds 25%.
Speaking in a video link with members of his government on Thursday, Vladimir Putin said the Kremlin could find legally viable ways to seize international firms. The government would push to introduce external management and then transfer these enterprises to those who actually want to work, Putin said. There are enough legal and market instruments for this.
https://www.theguardian.com/world/2022/mar/10/russia-plans-to-seize-assets-of-western-companies-exiting-country
From July 2023:
Russia Steps Up Economic War With West, Seizing Assets of Big Conglomerates
Seizures of Danone, Carlsbergs operations sound a warning shot to Western companies looking to exit Russia
https://www.wsj.com/articles/russia-steps-up-economic-war-with-west-seizing-assets-of-big-conglomerates-e592f137
Seizures of Danone, Carlsbergs operations sound a warning shot to Western companies looking to exit Russia
https://www.wsj.com/articles/russia-steps-up-economic-war-with-west-seizing-assets-of-big-conglomerates-e592f137
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Moscow may seize private US assets in Russia if US seizes frozen reserves, says Putin ally [View all]
BumRushDaShow
Apr 27
OP
Any American who still has private financial assets in Russia has been very foolish.
Irish_Dem
Apr 27
#2
Don't be surprised if wealthy ilk like former ExxonMobil CEO and SOS Rex Tillerson
BumRushDaShow
Apr 27
#7
Rex is rich x times over. Losing anything is chump change for the ------e and deserves the result due to his greed
Traurigkeit
Apr 27
#17
Amen! I cringed when Obama said that to Romney. And Romney has been proven right.
oldsoftie
Apr 28
#50
Here's a list of sanctioned banks & Biden's E.O two yrs ago, that bans Americans from doing business in Russia.
ancianita
Apr 27
#37
Subway, Carl's Jr., Papa John's, Costa Coffee, Burger King, and TGI Fridays
LiberalLovinLug
Apr 27
#13
Damn it! I enjoy the occassional BK burger and Subway sandwhich. I will stop. There are many other choices.
Earth-shine
Apr 27
#39
Probably more threatening to high-value companies: Ford, Koch, semi-conductors/software etc.
erronis
Apr 27
#32
I don't have a lot of sympathy for those who didn't divest from Russian investments
Bucky
Apr 28
#56