Russia expropriates fleeing companies
Russia’s deputy prime minister has warned foreign companies that are pulling out of the country that they will be expropriated.
He said that companies can stay in Russia. They can also entrust their business to local partners. However, they cannot close down their operations and lay off employees. Russia will treat such a move as deliberate bankruptcy. This marks the start of the expropriation procedure.
This decision is a reaction to the mass declarations of many global companies about closing their businesses in Russia in connection with its attack on Ukraine.