“Putin ordered nationalization of foreign assets if EU confiscates frozen Russian fundsRussia is developing a plan to nationalize and quickly sell off foreign assets if the European Union confiscates frozen Russian
funds. The President of the Russian Federation signed a decree allowing the express sale of state assets in response to
“unfriendly” actions by foreign states.
”, — write: unn.ua
DetailsAccording to a source close to the Russian government, the Russian authorities may nationalize and quickly sell off foreign assets as part of a new privatization mechanism.
The corresponding decree, which allows for the express sale of state assets under a special procedure, was signed by Russian President Vladimir Putin on September 30. The document states that this is a response to “unfriendly” actions of foreign states, including sanctions.
A Bloomberg source claims that the document is intended to accelerate the sale of various companies, both Russian and foreign. And if the EU begins to seize Russian assets, Moscow may respond symmetrically.
Despite Western sanctions imposed after the full-scale Russian invasion of Ukraine, hundreds of foreign companies continue to operate in Russia. Among them are UniCredit, Raiffeisen Bank, PepsiCo, and Mondelez.
RecallUkraine received a tranche of EU macro-financial assistance totaling 4 billion euros under the ERA loan mechanism. These funds are financed by profits from immobilized Russian assets.
Danish Prime Minister Mette Frederiksen supported the use of frozen Russian assets for Ukraine. She noted that Russia is waging a hybrid war against Europe, but it is impossible to protect against all its manifestations.