Explained: What happens if Russia takes over assets of western companies?
The HinduApple, McDonald's, Mercedes-Benz, IKEA, Volkswagen — the list goes on. See you in court "It would take us back 100 years to 1917," Russian metal magnate Vladimir Potanin said of the move last week, referring to the 1917 Bolshevik revolution, a time of economic crisis in Russia. "Any lawless decision by Russia to seize the assets of these companies will ultimately result in even more economic pain for Russia," White House spokesperson Jen Psaki wrote on Twitter. Opening empty stores There's also the question of what Russia would do with the assets seized from foreign companies, which include both store space as well as farms and production facilities. "What could work, in the short run, is food supplies," said Rochlitz, pointing to the example of international agriculture companies that produce milk and cheese in Russia, which could be nationalized with relative ease.
History of this topic
Putin signs decree allowing seizure of Americans’ assets if US confiscates Russian holdings
Associated Press
Putin moves to seize assets of ‘naughty’ Western companies fleeing Russia
The Telegraph
Russians buy last goods from H&M, IKEA as stores wind down
The Independent
Column: Here’s the ‘hall of shame’ of companies that haven’t left Russia
LA Times
As companies leave Russia, their assets could be seized
Associated Press
Not all Western companies sever ties to Russia over Ukraine
Associated Press
From McDonald’s to TikTok, why are big brands bailing on Russia?
Al Jazeera
Putin bans asset sales by foreign investors in bid to shore up Russian economy
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