Russia's Energy Asset Seizure Targets 'Unfriendly' European Nations

Russian President Vladimir Putin has signed decrees allowing the government to seize and sell off energy assets belonging to European firms in Russia. The move targets companies from countries deemed "unfriendly" by Moscow, such as Austria and Germany. While the firms may be compensated, the amount will be determined by the Russian state. This marks the largest asset seizure in recent Russian history and comes as part of the Kremlin's efforts to shore up its economy amid Western sanctions. Western energy firms have been withdrawing from Russia, leading to a decline in productivity in the country's fossil fuels sector. The Kremlin has already confiscated assets from Western companies that have left the market.