Russia is transferring local assets of more European companies into temporary administration. The move stems from a decree by President Vladimir Putin. The measure concerns the property of European companies operating in Russia. novinky.cz ↗
The Kremlin described the transfer as a response to the support that European Union countries provide to Ukraine. According to Russia's leadership, it is meant to be a reaction to the policy of EU member states regarding the war in Ukraine. STVR (Minúta po minúte) ↗
Temporary administration means that the local assets of the affected European companies pass under the control of Russian authorities. However, available information does not make clear which specific companies are affected by the latest decision, nor what scope of property is subject to the measure.
The Kremlin also stated that the step is reversible. This means Russian authorities could change or cancel it in the future. However, it is not yet known under what conditions this might happen.
The decision follows wider tension between Russia and the countries of the European Union. Moscow has long criticized the support Ukraine receives from European states, while the EU adopts measures aimed against Russia. Further steps regarding the management of the affected assets will depend on decisions by Russian authorities.
Russia transfers assets of more European companies under state control
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