Russia’s ruling party, United Russia, said on Wednesday that a government commission had approved the first step towards nationalizing assets of foreign firms that leave the country in the wake of economic sanctions over Ukraine.

United Russia added in a statement on the Telegram messaging app that the commission on lawmaking activity had supported a bill allowing for firms more than 25% owned by foreigners from “unfriendly states” to be put into external administration.

“This will prevent bankruptcy and save jobs,” it said.

Corporate actions to censure Russia over its invasion of Ukraine vary widely, with some firms like US carmaker Ford temporarily shutting down factories but others like British energy company BP promising to exit the country.

United Russia said according to the proposed bill companies who had announced they were leaving Russia could refuse to go into administration if within five days they resumed activities or sold shares, providing that the business and employees remained.

Otherwise, a court would appoint a temporary administration for three months, after which the shares of the new organization would be put up for auction and the old one would be liquidated, it added.

https://newsinfo.inquirer.net/1566069/russia-will-nationalize-assets-of-foreign-firms-that-leave-ruling-party

this means Russia will seize all assets on Russian soil from companies that are leaving. Making the cease of operations permanent, since all of their properties belong to the Russian government now. This will negatively impact balance sheets and finances of the companies, but Russia is shooting itself in the foot. There are no candidates to sell the property to and minimum ways to liquidate these assets to boost their economy. Only thing to worry about is intellectual property which they could misuse. For personal profit or blackmail.

IMHO, nationalize is a lie. It might be held by the Russian government for a bit, but then will be sold dirt cheap (i.e. given) to the oligarchs as reward for sticking with Putin as he crushes popular dissent.

i.e this is just a repeat of what happened after the fall of the soviet union. Those with power grabbed the assets: https://www.pbs.org/frontlineworld/stories/moscow/billionaires.html

Nice one

I stand with Putin

God bless you god of War

Even if it’s sold as Scarps every body will fill the heat either subtly or otherwise

Damn... Mac Donalds and other foreign companies just got played

Not even a chance for them to sell off their assets like Abrahamovhic did

The real headline should read:

"Russia will make sure no foreign business will invest in Russia for the foreseeable future"...
It's almost like Russia is going out of their way to try and totally destroy their own country

This is getting more serious shaa… Zelensky should give up already

GeneralB:
This is getting more serious shaa… Zelensky should give up already

Na so them dey take give up? Someone attacked you in your father's house, and you are running away? Common think.

Maybe it's a way of putin to industrialized Russia and make it less vulnerable to western pressure using the war as pretext.

xxq0911:
The real headline should read:

"Russia will make sure no foreign business will invest in Russia for the foreseeable future"...
It's almost like Russia is going out of their way to try and totally destroy their own country

Foreign Countries/companies will invest. Forget all this western propoganda. They are fighting an economic war with the wrong country, a country that has the backing of China and the Arabs. If na Nigeria now, I for say we are finished. Cos we ain't to international trade as such. But Russia gat the oil and gas, wheat and coal that westerner's need it. Last last when the dust settles i.e when Ukraine and Russia have made peace, they will revert them back to the original owners. Na initial gragra dey worry America and Russia. We need each other to survive in this world.

Freestainworld:
Na so them dey take give up? Someone attacked you in your father's house, and you are running away? Common think.

oga Ukraine should give up on the war. Russia is not asking for the whole of Ukraine. Ukraine was committing war crime at Donetsk and Luhansk because those two cities said they want to be an independent country away from Ukraine but Ukraine refused. Ukraine was stubbornly trying to join NATO and Russia was quiet all through not until Russia started descending on them because Russia got an Intel that Ukraine wants to start bombing Donetsk and Luhansk with the help of US. Is Ukraine not wicked? They should see Donetsk and Luhansk as an independent country and sign that they will never join NATO in their live time and then have peace. Some of you are speaking based on sentiment. Russia is not asking for the whole land of Ukraine however, Ukraine should do the right thing to have peace.

xxq0911:
The real headline should read:

"Russia will make sure no foreign business will invest in Russia for the foreseeable future"...
It's almost like Russia is going out of their way to try and totally destroy their own country

Brainwashed negro

Emmajn1:
oga Ukraine should give up on the war. Russia is not asking for the whole of Ukraine. Ukraine was committing war crime at Donetsk and Luhansk because those two cities said they want to be an independent country away from Ukraine but Ukraine refused. Ukraine was stubbornly trying to join NATO and Russia was quiet all through not until Russia started descending on them because Russia got an Intel that Ukraine wants to start bombing Donetsk and Luhansk with the help of US. Is Ukraine not wicked? They should see Donetsk and Luhansk as an independent country and sign that they will never join NATO in their live time and then have peace. Some of you are speaking based on sentiment. Russia is not asking for the whole land of Ukraine however, Ukraine should do the right thing to have peace.

but your country is killing the easterners because they said they want a separate nation, you didn't call it war crime, hypocrisy

Freestainworld:
but your country is killing the easterners because they said they want a separate nation, you didn't call it war crime, hypocrisy

Nigeria soldiers will surely pay for their crimes on biafrans...for sure.

Chameleon9:
this means Russia will seize all assets on Russian soil from companies that are leaving. Making the cease of operations permanent, since all of their properties belong to the Russian government now. This will negatively impact balance sheets and finances of the companies, but Russia is shooting itself in the foot. There are no candidates to sell the property to and minimum ways to liquidate these assets to boost their economy. Only thing to worry about is intellectual property which they could misuse. For personal profit or blackmail.

Putin should not forget he has assets outside russia too, which could be used to pay those companies taken over by them.

Freestainworld:
Na so them dey take give up? Someone attacked you in your father's house, and you are running away? Common think.

If you’re conversant with International politics, you should know that Russia is fighting the US(NATO) Ukraine is just unfortunate to be the lab rat and Zelensky is making it easy for Putin.

Emmajn1:
Nigeria soldiers will surely pay for their crimes on biafrans...for sure.

When? How many have paid after the civil war?

The joke is on you.