In view of the massive exodus of multinationals, the Russian government has been considering for several days a plan to nationalize the assets left by these companies. -like Apple, Ikea, Microsoft, IBM, Toyota, McDonald’s and H&M…- when they left the country.
Apparently what was only a rumor has taken shape, Vladimir Putin having approved this plan today. According to the Washington Postthe text would allow the government to somehow legislate via court decisions to impose external management (by the Russian state therefore) factories, stores and other facilities left behind!
In an official statement, Vladimir Putin’s party -United Russia- said that this decision would prevent bankruptcy and preserve jobs
. In recent days, this one had been particularly pressing on the subject.
External management would be effective during a maximum of three months. After that, the government could put businesses up for auction. Most good newscompanies could stop the process by restarting their activities in Russia within five days of the decision or even decide to sell their goods (under conditions that are not very clearly defined)…
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