List of candidate companies to be nationalized prepared in Russia

10.03.2022, Moscow.

The Public Consumer Initiative consumer rights protection organization prepared a list of 59 foreign companies that can be nationalized, Izvestiya reported on March 10.

The list includes the companies that announced that they would stop their operation in Russia without any guarantees to the consumers.

The list of companies includes Volkswagen, Porsche, Toyota, IKEA, IBM, Apple, and Microsoft. The list has been submitted to the government of the Russian Federation and to the Prosecutor General’s Office.

According to the authors, the list remains open, and the law enforcement authorities as well as the Russian Federal State Agency for Health and Consumer Rights and the Ministry of Industry and Trade will participate in the work on it. According to the head of the author organization Oleg Pavlov, companies “declaring that they are leaving without any guarantees to the Russian consumers” will be added on the list.

According to Pavlov, the authorities have decided that foreign owners cannot just close their business in Russia. Those included on the list will face the risk of arrest of their accounts and assets, external management, and nationalization. Criminal liability for fraud is also possible.

The Russian government has imposed a number of restrictions on disinvestment of capital from the country. In particular, any deals between the Russian companies and foreign organizations from the unfriendly countries must be approved by a special governmental commission. However, a number of companies declared that they would stop their business in Russia.

Source: Rossa Primavera News Agency

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