Russia puts Shell on list of companies to nationalize properties of | Financial

The reason for this is that the companies withdrew from the country because of the war in Ukraine, according to the Kremlin without giving guarantees to consumers.

The list could be expanded to include more companies, said Oleg Pavlov of the Public Consumer Initiative, which compiled the list. It has already been sent to the government. But if more companies stop doing business in the country and leave Russian consumers without guarantees, they will also be on the list, according to Pavlov.

Bill

Earlier, the government in Moscow passed a bill to put under receivership companies that were more than 25 percent owned by foreigners from so-called “unfriendly nations”. Companies can avoid that receivership by resuming operations or selling their shares within five days of announcement, United Russia, President Vladimir Putin’s party, previously said. Then the activities and employees must be retained.

If this does not happen, a temporary board is appointed for three months by a judge and the company assets and activities are transferred to a new company. At the end of those three months, the shares in the new organizations are then auctioned. A similar arrangement could apply to the companies on this list.

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