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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRussia plans to seize assets off Western companies that pull out
Vladimir Putin prepares economic retaliation for western sanctions, including laws to impound $10bn of leased airline jets
Russia-Ukraine war latest updates
Richard Partington
@RJPartington
Thu 10 Mar 2022 13.30 EST
Russia has drawn up plans to seize the assets of western companies leaving the country as the Kremlin pushes back against sweeping sanctions and the exodus of international businesses since its invasion of Ukraine.
Announcing the move after a string of global firms said they would suspend operations in Russia this week, including McDonalds, Coca-Cola and Pepsi, the countrys economic ministry said it could take temporary control of departing businesses where foreign ownership exceeds 25%.
Speaking in a video link with members of his government on Thursday, Vladimir Putin said the Kremlin could find legally viable ways to seize international firms. The government would push to introduce external management and then transfer these enterprises to those who actually want to work, Putin said. There are enough legal and market instruments for this.
www.the guardian.com
Clash City Rocker
(3,379 posts)Bettie
(15,998 posts)No idea what his thought process is, but then, he thinks he's god.
gab13by13
(20,867 posts)Wondering if the buildings are owned or leased? Seize the Big Macs in the freezer? What happens when the Big Macs are gone?
former9thward
(31,805 posts)There a lot of factories in Russia. Everyone is focusing in on McDs for some reason. BTW they don't ship Big Macs or any of that stuff in. They have domestic supplies.
ProudMNDemocrat
(16,485 posts)A lot of these Corporations pulling out have more power together than he does. What is he going to do? Go to war with them? They are bankrupting him. He is pissed off that the money is drying up for his war machine. EXTORTION right out in the open.
PatSeg
(46,804 posts)He is becoming more irrational every day. He is so used to threats and intimidation, he thinks he can bully the whole world. Things will not end well for Mr. Putin.
hatrack
(59,442 posts)And sell off the rest for scrap for critical mansion upgrades. After all, it's the Putin Way!
Irish_Dem
(45,640 posts)samplegirl
(11,415 posts)Putin acts like these Corporations are being forced.
They are making their own decisions. They want the evil bastard stopped.
Irish_Dem
(45,640 posts)I am cynical, and think the corporations only withdrew from Russia as PR moves to placate their US customers.
But if this affects their bottom line too much they will find a way back in.
Demsrule86
(68,352 posts)PatSeg
(46,804 posts)to even afford a Big Mac anymore.
Demsrule86
(68,352 posts)again.
PatSeg
(46,804 posts)Demsrule86
(68,352 posts)times as the glory years. We all tend to find the times when we were young the best of times. My Dad grew up in the depression and told me stories of his great childhood...but really when you look at it, his Dad left when he was two, my grandmother supported her entire family with secretarial work and after the depression, the family was not close. But Dad would still spin these great stories. I expect Putin feels that those were good days...
PatSeg
(46,804 posts)I think most people do it, especially if life isn't as good as they'd hoped it would be. They look back to a seemingly "better" time. "The good old days" were rarely as good as we remember.
Demsrule86
(68,352 posts)fondly and yet they were not easy times...we had race wars with shootings the next town over. The economy was bad too. I bet my parents saw it differently
PatSeg
(46,804 posts)so when I look back fondly, I am missing who I was, not what was happening around me. I am missing a time when no matter how bad things seemed, everything was still new and life was still full of possibilities.
I certainly don't want to be that person any more than I want to live in that time, but I miss the innocent optimism and the living in the moment. I think that is why I enjoy being around young children. They are still in the "now" and every day is such an adventure. For a fleeting minute I can remember what it was like to live in a timeless world with no past and no future, just now. I believe that is what a lot of nostalgia is really about.
Irish_Dem
(45,640 posts)Demsrule86
(68,352 posts)investments in Russia began and Putin has made it pretty attractive for them until now. But with no money to spend...what good will further investments do? And once Putin decides to take private business it will not stop with foreign companies in my opinion. He needs money he will take whatever he can.
Irish_Dem
(45,640 posts)Demsrule86
(68,352 posts)Irish_Dem
(45,640 posts)Amishman
(5,541 posts)good luck getting parts, raw materials, components, training, updates, or labor
The few areas where it might work (fast food) are areas where is the least advantage to seizing foreign assets.
Say goodbye to future foreign investment in their economy. The US and EU combined for over $400 billion in foreign investment in Russia in 2020.
Another move that might kinda make a little sense in the short run but is totally suicidal long term
Sherman A1
(38,958 posts)For several decades.
Native
(5,935 posts)Sherman A1
(38,958 posts)Chainfire
(17,308 posts)expected such a move?
Johonny
(20,684 posts)This seems like a lot of hot air for the folks back home, but I doubt few companies are in a panic. Meanwhile, these assets aren't assets unless they can be sold off to other bidders, but there aren't likely any bidders outside of China. Which goes along with my belief Russia is heading toward being a Chinese vassal state. A poor country in which China slowly leverage buys out their assets.
Midnight Writer
(21,548 posts)dalton99a
(81,073 posts)Hugin
(32,778 posts)Poot'n has nothing on the Kentucky COL.
Wingus Dingus
(8,049 posts)Johnny2X2X
(18,745 posts)They do this and theyll be dead to direct foreign investment for the next 20 years.
DFW
(54,055 posts)87 sets of used golden arches .
WarGamer
(12,106 posts)So the Russian gov't is going to step right into McDonalds ownership and keep on selling Big Macs and Filet o Fish as if nothing happened.
After all... all the buns, meat, ketchup, etc, etc... are sourced in Russia or nearby.