Putin nationalizes foreign companies' assets in Russia.

1 min read
Source: Reuters
Putin nationalizes foreign companies' assets in Russia.
Photo: Reuters
TL;DR Summary

Russian President Vladimir Putin has signed a decree establishing temporary control of the Russian assets of two foreign energy firms, Uniper and Fortum, as a possible retaliation if Russian assets abroad are seized. The move comes in response to "unfriendly and contrary to international law" actions from the United States and others. The shares in the two entities have been placed in the temporary control of Rosimushchestvo, the federal government property agency. The agency said more foreign firms could find their assets under temporary Russian control, but the decree does not concern ownership issues and does not deprive owners of their assets.

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