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Russia may freeze assets of foreign companies leaving its market

2022 Mar 10, 16:29, Russia
Source: ANI

Assets of foreign companies that are suspending or terminating their services in Russia may be frozen, and property rights restricted, Andrey Kleshas, the chairman of the Russian upper chamber's Committee on Constitutional Legislation, told Sputnik on Thursday.

"In relation to foreign companies from unfriendly countries that are leaving Russia, not only can such measure as nationalization be applied, but also restriction of property rights, a ban on voting by the stock of shares in subsidiaries, freezing of assets, and other measures," Kleshas said.

After Russia launched its military operation in Ukraine, many international businesses began to leave the Russian market, with over three dozen international companies declaring a downsizing or suspension of their operations in the country, including major air and auto manufacturers, big tech, and energy companies.


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